Quantbot Technologies LP Increases Position in SSR Mining Inc. (NASDAQ:SSRM)

Quantbot Technologies LP increased its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 75.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 432,287 shares of the basic materials company’s stock after buying an additional 185,352 shares during the quarter. Quantbot Technologies LP’s holdings in SSR Mining were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new stake in SSR Mining in the fourth quarter valued at $50,352,000. Norges Bank acquired a new position in shares of SSR Mining in the fourth quarter worth about $24,398,000. Van ECK Associates Corp raised its position in shares of SSR Mining by 4.5% in the first quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock worth $95,619,000 after acquiring an additional 929,850 shares during the period. American Century Companies Inc. raised its position in shares of SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after acquiring an additional 493,695 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of SSR Mining in the fourth quarter worth about $4,306,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SSRM has been the subject of a number of analyst reports. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. CIBC upped their price objective on shares of SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.56.

SSR Mining Stock Performance

Shares of SSRM remained flat at $5.11 during mid-day trading on Friday. 3,080,632 shares of the company traded hands, compared to its average volume of 4,337,505. SSR Mining Inc. has a 52-week low of $3.76 and a 52-week high of $15.27. The company has a current ratio of 3.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $5.02 and its 200 day simple moving average is $6.11. The stock has a market cap of $1.03 billion, a PE ratio of -2.47, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.13. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. The firm had revenue of $230.23 million during the quarter. Research analysts anticipate that SSR Mining Inc. will post 0.46 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.