Quadrature Capital Ltd Increases Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Quadrature Capital Ltd grew its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 1,318.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 668,300 shares of the basic materials company’s stock after purchasing an additional 621,200 shares during the quarter. Quadrature Capital Ltd owned approximately 0.33% of SSR Mining worth $2,976,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in SSRM. Van ECK Associates Corp boosted its position in shares of SSR Mining by 4.5% in the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock valued at $95,619,000 after purchasing an additional 929,850 shares during the period. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $37,034,000 after acquiring an additional 533,880 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of SSR Mining by 5.6% during 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 during the last quarter. Franklin Resources Inc. increased its holdings in shares of SSR Mining by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock valued at $36,470,000 after acquiring an additional 18,503 shares during the period. Finally, Norges Bank acquired a new position in shares of SSR Mining in the 4th quarter valued at $24,398,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Stock Performance

NASDAQ SSRM traded up $0.03 during trading hours on Friday, hitting $5.49. 1,936,518 shares of the stock were exchanged, compared to its average volume of 4,103,969. SSR Mining Inc. has a 12-month low of $3.76 and a 12-month high of $15.27. The stock has a 50-day moving average of $5.02 and a 200 day moving average of $5.71. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -2.65, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. The company has a quick ratio of 1.75, a current ratio of 3.07 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. The business had revenue of $230.23 million during the quarter. As a group, equities research analysts forecast that SSR Mining Inc. will post 0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SSRM has been the topic of several research reports. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Finally, CIBC upped their price objective on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two investment 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, the company presently has an average rating of “Hold” and a consensus price target of $6.56.

SSR Mining 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.