Quantbot Technologies LP Grows Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Quantbot Technologies LP increased its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 109.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 140,007 shares of the basic materials company’s stock after acquiring an additional 73,277 shares during the quarter. Quantbot Technologies LP’s holdings in SSR Mining were worth $974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SSRM. JPMorgan Chase & Co. boosted its holdings in SSR Mining by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after purchasing an additional 220,349 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after acquiring an additional 462,000 shares during the last quarter. Franklin Resources Inc. grew its position in SSR Mining by 649.6% in the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock worth $847,000 after acquiring an additional 127,401 shares during the period. Verition Fund Management LLC increased its stake in SSR Mining by 177.5% during the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock worth $601,000 after acquiring an additional 67,657 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in SSR Mining by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock valued at $7,542,000 after purchasing an additional 75,563 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SSRM shares. National Bank Financial upgraded SSR Mining to a “hold” rating in a report on Friday, March 21st. UBS Group lifted their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, CIBC upped their price target on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.93.

SSR Mining Stock Up 1.7 %

Shares of SSRM opened at $10.99 on Wednesday. The company’s 50-day simple moving average is $9.39 and its 200-day simple moving average is $7.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. SSR Mining Inc. has a 1 year low of $4.03 and a 1 year high of $11.38. The stock has a market capitalization of $2.22 billion, a PE ratio of -8.52, a P/E/G ratio of 0.37 and a beta of 0.53.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

SSR Mining Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.