Bank of New York Mellon Corp Has $4.10 Million Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Bank of New York Mellon Corp decreased its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,775 shares of the basic materials company's stock after selling 27,351 shares during the period. Bank of New York Mellon Corp owned about 0.29% of SSR Mining worth $4,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in SSR Mining during the third quarter worth about $47,000. Lincoln Capital LLC bought a new position in SSR Mining during the fourth quarter worth about $70,000. Drive Wealth Management LLC bought a new position in SSR Mining during the third quarter worth about $74,000. HighTower Advisors LLC lifted its stake in SSR Mining by 24.8% during the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock worth $75,000 after purchasing an additional 2,619 shares during the period. Finally, Olympiad Research LP bought a new position in SSR Mining during the fourth quarter worth about $94,000. Institutional investors own 68.30% of the company's stock.

SSR Mining Price Performance

Shares of SSR Mining stock traded down $0.23 during midday trading on Friday, reaching $10.88. The company had a trading volume of 4,804,437 shares, compared to its average volume of 2,705,474. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -8.43, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The stock has a fifty day simple moving average of $9.24 and a 200 day simple moving average of $7.24. SSR Mining Inc. has a 1-year low of $3.96 and a 1-year high of $11.38.

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SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.08). The company had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. As a group, equities research analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

SSRM has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of SSR Mining from $7.15 to $12.05 and gave the company a "buy" rating in a research note on Tuesday, February 18th. CIBC lifted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. StockNews.com upgraded shares of SSR Mining from a "sell" rating to a "hold" rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and lifted their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $9.93.

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.