Loews Corp increased its holdings in shares of SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 94.8% in the 4th quarter, HoldingsChannel reports. The firm owned 804,644 shares of the basic materials company’s stock after acquiring an additional 391,526 shares during the period. SSR Mining comprises approximately 0.0% of Loews Corp’s portfolio, making the stock its 24th biggest holding. Loews Corp’s holdings in SSR Mining were worth $7,073,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in SSRM. James Investment Research Inc. grew its holdings in SSR Mining by 8,368.4% during the 4th quarter. James Investment Research Inc. now owns 176,990 shares of the basic materials company’s stock valued at $1,556,000 after buying an additional 174,900 shares in the last quarter. American Century Companies Inc. grew its holdings in SSR Mining by 33.0% during the 4th quarter. American Century Companies Inc. now owns 421,100 shares of the basic materials company’s stock valued at $3,701,000 after buying an additional 104,500 shares in the last quarter. AGF Investments Inc. grew its holdings in SSR Mining by 11.5% during the 4th quarter. AGF Investments Inc. now owns 479,200 shares of the basic materials company’s stock valued at $4,220,000 after buying an additional 49,300 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in SSR Mining by 40.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 137,623 shares of the basic materials company’s stock valued at $1,210,000 after buying an additional 39,488 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in SSR Mining during the 4th quarter valued at approximately $224,000. Hedge funds and other institutional investors own 43.28% of the company’s stock.
SSRM has been the subject of several research analyst reports. Zacks Investment Research cut SSR Mining from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. BMO Capital Markets initiated coverage on SSR Mining in a report on Friday, November 17th. They set an “outperform” rating and a $12.50 price target for the company. National Bank Financial restated an “outperform market weight” rating on shares of SSR Mining in a report on Wednesday, December 13th. Credit Suisse Group upgraded SSR Mining from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 16th. Finally, Scotiabank cut SSR Mining from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.38.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.09). The company had revenue of $107.88 million during the quarter, compared to analysts’ expectations of $113.00 million. SSR Mining had a return on equity of 4.04% and a net margin of 15.76%. The company’s revenue for the quarter was down 15.3% on a year-over-year basis. research analysts forecast that SSR Mining Inc will post 0.31 earnings per share for the current year.
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About SSR Mining
SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.
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