Acadian Asset Management LLC Cuts Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Acadian Asset Management LLC reduced its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 78.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,214 shares of the basic materials company’s stock after selling 899,265 shares during the quarter. Acadian Asset Management LLC owned 0.21% of SSR Mining worth $4,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC purchased a new position in shares of SSR Mining in the 2nd quarter worth about $31,000. Macroview Investment Management LLC purchased a new position in shares of SSR Mining in the 3rd quarter worth about $32,000. Canton Hathaway LLC purchased a new position in shares of SSR Mining in the 2nd quarter worth about $40,000. Private Advisor Group LLC purchased a new position in shares of SSR Mining in the 2nd quarter worth about $45,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of SSR Mining in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 66.07% of the company’s stock.

Several equities research analysts recently weighed in on the company. BidaskClub cut SSR Mining from a “buy” rating to a “hold” rating in a report on Tuesday, September 29th. Scotiabank increased their target price on SSR Mining from $36.00 to $39.50 and gave the company an “outperform” rating in a report on Tuesday, October 13th. Zacks Investment Research cut SSR Mining from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 22nd. National Bank Financial assumed coverage on SSR Mining in a report on Thursday, September 17th. They set an “outperform” rating for the company. Finally, Pi Financial restated a “buy” rating on shares of SSR Mining in a report on Thursday, September 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. SSR Mining currently has a consensus rating of “Buy” and an average price target of $30.27.

Shares of NASDAQ:SSRM opened at $18.47 on Friday. SSR Mining Inc. has a 52-week low of $9.00 and a 52-week high of $25.32. The firm has a market capitalization of $2.28 billion, a P/E ratio of 39.30 and a beta of 1.05. The stock has a 50 day moving average price of $19.09 and a 200-day moving average price of $20.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.16 and a current ratio of 8.96.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Thursday, November 12th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.21. SSR Mining had a return on equity of 8.99% and a net margin of 9.50%. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $255.78 million. During the same quarter in the prior year, the company earned $0.23 EPS. The business’s revenue was up 52.5% compared to the same quarter last year. On average, equities analysts forecast that SSR Mining Inc. will post 1.22 EPS for the current fiscal year.

About SSR Mining

SSR Mining Inc, a resource company, 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 southeastern Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

Further Reading: Dead Cat Bounce

Institutional Ownership by Quarter for SSR Mining (NASDAQ:SSRM)

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