SSR Mining Inc. (NASDAQ:SSRM) Stock Position Reduced by Hollencrest Capital Management

Hollencrest Capital Management cut its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 81.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,859 shares of the basic materials company’s stock after selling 162,543 shares during the period. Hollencrest Capital Management’s holdings in SSR Mining were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SSRM. State of New Jersey Common Pension Fund D grew its position in SSR Mining by 92.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 31,587 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 15,152 shares in the last quarter. GSA Capital Partners LLP purchased a new position in SSR Mining during the third quarter valued at approximately $572,000. Parametrica Management Ltd bought a new stake in SSR Mining in the third quarter worth approximately $751,000. TrinityPoint Wealth LLC bought a new stake in SSR Mining in the third quarter worth approximately $78,000. Finally, Drive Wealth Management LLC bought a new stake in SSR Mining in the third quarter worth approximately $74,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

SSR Mining Price Performance

NASDAQ SSRM opened at $10.24 on Thursday. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $8.73 and a 200 day simple moving average of $6.98. The company has a market cap of $2.07 billion, a P/E ratio of -7.94, a P/E/G ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 1 year low of $3.91 and a 1 year high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. On average, sell-side analysts predict that SSR Mining Inc. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group boosted their target price on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.93.

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.