SSR Mining Inc. (NASDAQ:SSRM) Position Cut by Two Sigma Investments LP

Two Sigma Investments LP decreased its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,466,818 shares of the basic materials company’s stock after selling 534,818 shares during the quarter. Two Sigma Investments LP’s holdings in SSR Mining were worth $17,169,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SSRM. US Bancorp DE boosted its stake in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of SSR Mining during the fourth quarter valued at approximately $29,000. Allianz SE acquired a new position in shares of SSR Mining during the fourth quarter worth approximately $30,000. Olympiad Research LP bought a new position in SSR Mining in the 4th quarter worth approximately $94,000. Finally, Tower Research Capital LLC TRC grew its holdings in SSR Mining by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company’s stock worth $95,000 after buying an additional 8,872 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

SSR Mining Trading Down 2.3%

Shares of SSRM stock opened at $11.16 on Friday. The stock has a 50-day simple moving average of $10.54 and a 200 day simple moving average of $8.72. The stock has a market capitalization of $2.26 billion, a P/E ratio of -8.65, a P/E/G ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $11.61. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.21. The company had revenue of $303.43 million during the quarter, compared to the consensus estimate of $332.64 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, sell-side analysts expect that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

SSRM has been the subject of a number of analyst reports. Cormark upgraded SSR Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. National Bankshares reaffirmed a “sector perform” rating on shares of SSR Mining in a report on Wednesday, April 23rd. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. National Bank Financial upgraded shares of SSR Mining to a “hold” rating in a research report on Friday, March 21st. Finally, Wall Street Zen raised shares of SSR Mining from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.03.

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.