Martingale Asset Management L P Purchases 219,013 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Martingale Asset Management L P lifted its stake in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 115.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 407,996 shares of the basic materials company's stock after buying an additional 219,013 shares during the period. Martingale Asset Management L P owned about 0.20% of SSR Mining worth $2,317,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SSRM. Vanguard Group Inc. boosted its holdings in SSR Mining by 6.9% during the first quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company's stock worth $37,034,000 after purchasing an additional 533,880 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of SSR Mining by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company's stock valued at $207,000 after acquiring an additional 7,277 shares in the last quarter. Virtu Financial LLC increased its position in shares of SSR Mining by 19.2% during the first quarter. Virtu Financial LLC now owns 99,082 shares of the basic materials company's stock valued at $442,000 after acquiring an additional 15,935 shares during the last quarter. Simplicity Wealth LLC increased its position in shares of SSR Mining by 84.2% during the second quarter. Simplicity Wealth LLC now owns 29,771 shares of the basic materials company's stock valued at $135,000 after acquiring an additional 13,611 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in SSR Mining by 207.5% during the second quarter. Wedmont Private Capital now owns 55,839 shares of the basic materials company's stock worth $252,000 after acquiring an additional 37,680 shares during the period. Institutional investors own 68.30% of the company's stock.

SSR Mining Stock Performance

Shares of NASDAQ SSRM traded up $0.05 during trading on Friday, reaching $5.81. 505,323 shares of the stock traded hands, compared to its average volume of 2,241,031. SSR Mining Inc. has a 52-week low of $3.76 and a 52-week high of $12.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The company has a 50-day moving average of $5.87 and a 200-day moving average of $5.38. The stock has a market capitalization of $1.18 billion, a P/E ratio of -2.43, a price-to-earnings-growth ratio of 0.96 and a beta of 0.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group upped their price objective on SSR Mining from $6.30 to $6.80 and gave the company a "buy" rating in a research note on Tuesday, October 15th. StockNews.com downgraded shares of SSR Mining from a "hold" rating to a "sell" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.18.

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.