Connor Clark & Lunn Investment Management Ltd. Takes $1.27 Million Position in SSR Mining Inc. (NASDAQ:SSRM)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 181,300 shares of the basic materials company's stock, valued at approximately $1,265,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of SSR Mining at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SSRM. Cibc World Market Inc. increased its position in shares of SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company's stock valued at $25,967,000 after buying an additional 674,793 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company's stock worth $18,860,000 after purchasing an additional 462,000 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of SSR Mining by 399.1% during the third quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company's stock worth $2,455,000 after purchasing an additional 345,568 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company's stock worth $8,794,000 after purchasing an additional 220,349 shares in the last quarter. Finally, Martingale Asset Management L P increased its position in shares of SSR Mining by 115.9% during the third quarter. Martingale Asset Management L P now owns 407,996 shares of the basic materials company's stock worth $2,317,000 after purchasing an additional 219,013 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts recently commented on SSRM shares. CIBC boosted their price target on SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. StockNews.com upgraded SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and boosted their price target for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, UBS Group boosted their price target on SSR Mining from $7.15 to $12.05 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $9.93.

SSR Mining Trading Down 2.1 %

NASDAQ:SSRM traded down $0.23 during trading hours on Friday, hitting $10.88. The company had a trading volume of 4,804,437 shares, compared to its average volume of 2,699,625. 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 50-day moving average of $9.24 and a 200 day moving average of $7.26. The company has a market cap of $2.20 billion, a P/E ratio of -8.43, a P/E/G ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 1 year low of $3.96 and a 1 year high of $11.38.

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

SSR Mining Company Profile

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.