Cadence Wealth Management LLC Purchases Shares of 23,260 SSR Mining Inc. (NASDAQ:SSRM)

Cadence Wealth Management LLC purchased a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,260 shares of the basic materials company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSRM. AustralianSuper Pty Ltd purchased a new stake in SSR Mining in the fourth quarter valued at about $50,352,000. American Century Companies Inc. raised its stake in shares of SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after purchasing an additional 493,695 shares during the last quarter. U S Global Investors Inc. purchased a new position in shares of SSR Mining in the fourth quarter worth about $3,405,000. Scotia Capital Inc. raised its stake in shares of SSR Mining by 210.5% in the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock worth $4,660,000 after purchasing an additional 238,481 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of SSR Mining by 0.9% in the third quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company’s stock worth $281,455,000 after purchasing an additional 180,685 shares during the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

SSR Mining Price Performance

SSRM traded up $0.05 during trading on Friday, hitting $5.57. The company’s stock had a trading volume of 2,902,127 shares, compared to its average volume of 3,938,053. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. SSR Mining Inc. has a twelve month low of $3.76 and a twelve month high of $17.72. The business’s fifty day simple moving average is $4.63 and its 200 day simple moving average is $8.78. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.92, a P/E/G ratio of 1.72 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The company had revenue of $425.90 million for the quarter. During the same period in the previous year, the business posted $0.12 earnings per share. On average, equities research analysts forecast that SSR Mining Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated an “underperform” rating and issued a $3.00 price objective (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. TD Securities cut SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. CIBC lowered SSR Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. Finally, UBS Group lowered SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $17.00 to $5.00 in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.63.

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.