Wells Fargo & Company MN reduced its position in SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 45.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 651,606 shares of the basic materials company’s stock after selling 532,689 shares during the quarter. Wells Fargo & Company MN owned about 0.54% of SSR Mining worth $8,908,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in SSR Mining in the 2nd quarter valued at about $724,000. Pinnacle Associates Ltd. bought a new position in SSR Mining in the 2nd quarter valued at about $290,000. Gabelli Funds LLC increased its holdings in SSR Mining by 582.0% in the 2nd quarter. Gabelli Funds LLC now owns 341,000 shares of the basic materials company’s stock valued at $4,661,000 after buying an additional 291,000 shares during the period. Swiss National Bank increased its holdings in SSR Mining by 2.1% in the 2nd quarter. Swiss National Bank now owns 225,211 shares of the basic materials company’s stock valued at $3,082,000 after buying an additional 4,700 shares during the period. Finally, TD Asset Management Inc. increased its holdings in SSR Mining by 6.8% in the 2nd quarter. TD Asset Management Inc. now owns 1,199,632 shares of the basic materials company’s stock valued at $16,451,000 after buying an additional 76,900 shares during the period. 57.24% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on SSRM. Scotiabank raised shares of SSR Mining from a “sector perform” rating to a “sector outperform” rating and set a $17.00 target price on the stock in a report on Tuesday. TheStreet raised shares of SSR Mining from a “c” rating to a “b-” rating in a report on Monday, August 12th. BMO Capital Markets lifted their price target on shares of SSR Mining to $19.50 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. B. Riley lifted their price target on shares of SSR Mining from $16.70 to $18.70 and gave the company a “neutral” rating in a report on Monday. Finally, ValuEngine lowered shares of SSR Mining from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. SSR Mining has a consensus rating of “Buy” and a consensus price target of $17.31.
Shares of NASDAQ SSRM traded down $0.02 during midday trading on Friday, reaching $14.59. The stock had a trading volume of 73,989 shares, compared to its average volume of 1,101,906. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 63.39 and a beta of -0.36. SSR Mining Inc has a twelve month low of $8.43 and a twelve month high of $17.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.91 and a current ratio of 4.02. The company’s 50 day moving average price is $16.17 and its 200 day moving average price is $13.53.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.09. The firm had revenue of $155.15 million for the quarter, compared to the consensus estimate of $143.00 million. SSR Mining had a net margin of 4.18% and a return on equity of 4.84%. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. Equities analysts forecast that SSR Mining Inc will post 0.64 earnings per share for the current fiscal year.
SSR Mining Company Profile
SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.
Further Reading: Recession
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