D. E. Shaw & Co. Inc. Buys 2,587,212 Shares of SSR Mining Inc. (NASDAQ:SSRM)

D. E. Shaw & Co. Inc. increased its position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 45.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,228,572 shares of the basic materials company's stock after acquiring an additional 2,587,212 shares during the period. D. E. Shaw & Co. Inc. owned about 4.07% of SSR Mining worth $37,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its stake in shares of SSR Mining by 178.5% in the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 3,926 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in SSR Mining during the second quarter worth about $32,000. Creekmur Asset Management LLC bought a new position in shares of SSR Mining in the fourth quarter worth about $40,000. Abich Financial Wealth Management LLC acquired a new stake in shares of SSR Mining during the 1st quarter valued at $41,000. Finally, HB Wealth Management LLC acquired a new stake in SSR Mining during the 2nd quarter worth approximately $56,000. 68.30% of the stock is owned by institutional investors.

SSR Mining Stock Performance

NASDAQ SSRM opened at $5.97 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of -2.88, a PEG ratio of 0.66 and a beta of 0.73. The company has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $5.06. SSR Mining Inc. has a 12-month low of $3.76 and a 12-month high of $14.52. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $184.84 million during the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. Sell-side analysts predict that SSR Mining Inc. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of SSR Mining from $6.50 to $6.30 and set a "buy" rating for the company in a research report on Thursday, August 8th. CIBC increased their target price on shares of SSR Mining from $5.50 to $5.75 and gave the stock a "neutral" rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.89.

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.