Renaissance Technologies LLC Has $20.90 Million Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Renaissance Technologies LLC reduced its stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,003,326 shares of the basic materials company's stock after selling 860,252 shares during the period. Renaissance Technologies LLC owned approximately 1.48% of SSR Mining worth $20,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Xponance Inc. boosted its holdings in SSR Mining by 9.3% in the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company's stock worth $100,000 after acquiring an additional 1,222 shares during the period. CIBC Asset Management Inc grew its holdings in 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 valued at $1,729,000 after purchasing an additional 1,282 shares in the last quarter. US Bancorp DE increased its stake in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after buying an additional 1,360 shares during the period. HB Wealth Management LLC boosted its position in 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 buying an additional 1,463 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of SSR Mining by 0.4% during the fourth quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company's stock valued at $3,462,000 after acquiring an additional 1,884 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SSRM. CIBC raised their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. UBS Group upped their price target on shares of SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a report on Friday, April 11th. StockNews.com raised 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 research report on Friday, March 21st. Finally, Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and boosted their price objective for the company from $5.50 to $8.00 in a report 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.03.

SSR Mining Stock Performance

NASDAQ SSRM traded down $0.14 during trading hours on Friday, reaching $10.84. The company's stock had a trading volume of 1,779,678 shares, compared to its average volume of 2,736,838. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $10.20 and a 200 day simple moving average of $7.91. SSR Mining Inc. has a 52 week low of $4.32 and a 52 week high of $11.48. The stock has a market cap of $2.20 billion, a PE ratio of -8.40, a PEG ratio of 0.37 and a beta of 0.30.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 EPS 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 company had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. Equities research analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

SSR Mining 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.