Jacobs Levy Equity Management Inc. Trims Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Jacobs Levy Equity Management Inc. trimmed its stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 48.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 555,867 shares of the basic materials company's stock after selling 519,188 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.27% of SSR Mining worth $3,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its position in SSR Mining by 45.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company's stock valued at $37,124,000 after acquiring an additional 2,587,212 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of SSR Mining by 73.7% in the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company's stock worth $11,815,000 after purchasing an additional 1,118,417 shares during the last quarter. Hsbc Holdings PLC purchased a new position in SSR Mining in the 2nd quarter worth about $3,289,000. Acadian Asset Management LLC lifted its holdings in SSR Mining by 111.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company's stock valued at $5,440,000 after buying an additional 637,161 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in SSR Mining by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company's stock valued at $37,034,000 after buying an additional 533,880 shares during the period. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Stock Up 4.3 %

SSRM traded up $0.26 during trading on Friday, hitting $6.35. The stock had a trading volume of 3,089,358 shares, compared to its average volume of 2,111,350. The stock has a 50 day simple moving average of $5.88 and a two-hundred day simple moving average of $5.40. The company has a market capitalization of $1.29 billion, a PE ratio of -2.66, a PEG ratio of 0.99 and a beta of 0.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. SSR Mining Inc. has a twelve month low of $3.76 and a twelve month high of $11.52.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of SSR Mining from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. UBS Group upped their target price on SSR Mining from $6.30 to $6.80 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, SSR Mining has an average rating of "Hold" and an average target price of $5.18.

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.