JPMorgan Chase & Co. Buys 370,006 Shares of SSR Mining Inc. (NASDAQ:SSRM)

JPMorgan Chase & Co. boosted its position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,918,258 shares of the basic materials company's stock after purchasing an additional 370,006 shares during the period. JPMorgan Chase & Co. owned 0.95% of SSR Mining worth $13,351,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SSRM. Xponance Inc. raised its position in shares of SSR Mining by 9.3% during the fourth quarter. Xponance Inc. now owns 14,387 shares of the basic materials company's stock valued at $100,000 after buying an additional 1,222 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of SSR Mining by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company's stock worth $1,729,000 after buying an additional 1,282 shares during the period. US Bancorp DE raised its position in shares of SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after purchasing an additional 1,360 shares during the period. HB Wealth Management LLC raised its stake in shares of SSR Mining by 11.3% in the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company's stock valued at $100,000 after purchasing an additional 1,463 shares during the period. Finally, Cadence Wealth Management LLC boosted its holdings in SSR Mining by 4.1% during the fourth quarter. Cadence Wealth Management LLC now owns 48,916 shares of the basic materials company's stock worth $342,000 after purchasing an additional 1,928 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company's stock.

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SSR Mining Trading Up 0.8 %

Shares of SSR Mining stock traded up $0.09 during trading on Wednesday, hitting $10.90. The company's stock had a trading volume of 2,029,871 shares, compared to its average volume of 2,737,925. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -8.45, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. SSR Mining Inc. has a 52 week low of $4.32 and a 52 week high of $11.48. The stock has a 50-day moving average price of $10.13 and a two-hundred day moving average price of $7.85.

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 for the quarter, missing analysts' consensus estimates of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. Equities research analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.