Franklin Resources Inc. Has $847,000 Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Franklin Resources Inc. increased its stake in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 649.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,012 shares of the basic materials company's stock after purchasing an additional 127,401 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of SSR Mining worth $847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new position in shares of SSR Mining in the second quarter valued at approximately $3,289,000. National Bank of Canada FI increased its position in SSR Mining by 73.7% in the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company's stock valued at $11,815,000 after acquiring an additional 1,118,417 shares during the period. Two Sigma Advisers LP raised its stake 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 valued at $18,860,000 after acquiring an additional 462,000 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of SSR Mining by 25.5% in the second quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company's stock worth $3,992,000 after purchasing an additional 179,601 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings in SSR Mining by 177.5% in the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 67,657 shares during the period. Institutional investors own 68.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com raised SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, December 13th. UBS Group upped their target price on SSR Mining from $6.30 to $6.80 and gave the company a "buy" rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.18.

SSR Mining Trading Down 2.8 %

NASDAQ SSRM traded down $0.20 during trading hours on Monday, hitting $6.86. 3,005,510 shares of the company's stock were exchanged, compared to its average volume of 3,378,759. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $10.81. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $6.34 and a 200 day simple moving average of $5.63. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -2.87, a PEG ratio of 1.23 and a beta of 0.69.

SSR Mining 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.