Geode Capital Management LLC Boosts Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Geode Capital Management LLC lifted its stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,678,940 shares of the basic materials company's stock after buying an additional 38,593 shares during the period. Geode Capital Management LLC owned approximately 1.32% of SSR Mining worth $18,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cibc World Market Inc. grew its position in shares of SSR Mining by 22.1% during the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company's stock worth $25,967,000 after acquiring an additional 674,793 shares during the last quarter. JPMorgan Chase & Co. increased its stake in SSR Mining by 23.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock valued at $13,351,000 after purchasing an additional 370,006 shares during the period. American Century Companies Inc. raised its holdings in shares of SSR Mining by 99.3% in the fourth quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock valued at $3,528,000 after buying an additional 252,293 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SSR Mining during the fourth quarter worth about $1,265,000. Finally, Barclays PLC increased its position in SSR Mining by 33.8% in the 3rd quarter. Barclays PLC now owns 701,763 shares of the basic materials company's stock valued at $3,985,000 after acquiring an additional 177,447 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SSRM shares. UBS Group boosted their target price on SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a report on Friday, April 11th. StockNews.com upgraded shares of SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. National Bank Financial raised shares of SSR Mining to a "hold" rating in a report on Friday, March 21st. CIBC increased their price target on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and increased their target price for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.03.

SSR Mining Price Performance

Shares of NASDAQ:SSRM traded down $0.30 during midday trading on Monday, hitting $10.54. 3,596,490 shares of the stock were exchanged, compared to its average volume of 2,724,447. The stock has a market cap of $2.13 billion, a P/E ratio of -8.17, a PEG ratio of 0.37 and a beta of 0.30. SSR Mining Inc. has a twelve month low of $4.32 and a twelve month high of $11.48. The company has a 50 day moving average price of $10.23 and a 200-day moving average price of $7.98. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

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

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.