Abich Financial Wealth Management LLC Makes New Investment in SSR Mining Inc. (NASDAQ:SSRM)

Abich Financial Wealth Management LLC purchased a new stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,166 shares of the basic materials company’s stock, valued at approximately $41,000.

Several other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in SSR Mining by 4.5% during the first quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock valued at $95,619,000 after buying an additional 929,850 shares in the last quarter. Vanguard Group Inc. increased its holdings in SSR Mining by 6.9% in the first quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock worth $37,034,000 after buying an additional 533,880 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in SSR Mining by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock worth $16,003,000 after acquiring an additional 191,409 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of SSR Mining by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock worth $36,470,000 after purchasing an additional 18,503 shares during the last quarter. Finally, Norges Bank bought a new position in shares of SSR Mining during the 4th quarter valued at $24,398,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Stock Performance

Shares of NASDAQ SSRM traded down $0.10 during mid-day trading on Friday, hitting $4.81. The company had a trading volume of 3,060,353 shares, compared to its average volume of 2,525,177. The business’s 50-day simple moving average is $4.99 and its 200-day simple moving average is $5.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.75. The firm has a market cap of $971.09 million, a P/E ratio of -2.32, a PEG ratio of 0.51 and a beta of 0.71. SSR Mining Inc. has a 12 month low of $3.76 and a 12 month high of $15.27.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.13. The business had revenue of $230.23 million during the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. As a group, analysts predict that SSR Mining Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on SSRM. CIBC increased their target price on shares of SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, SSR Mining currently has a consensus rating of “Hold” and an average target price of $6.56.

About SSR Mining

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.