Intact Investment Management Inc. Sells 1,073,410 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Intact Investment Management Inc. decreased its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 97.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,500 shares of the basic materials company's stock after selling 1,073,410 shares during the period. Intact Investment Management Inc.'s holdings in SSR Mining were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSRM. US Bancorp DE grew its holdings in shares of 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 acquiring an additional 1,360 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of SSR Mining during the 4th quarter worth approximately $29,000. Point72 DIFC Ltd purchased a new position in shares of SSR Mining during the 3rd quarter worth approximately $47,000. Lincoln Capital LLC purchased a new position in shares of SSR Mining during the 4th quarter worth approximately $70,000. Finally, Drive Wealth Management LLC purchased a new position in shares of SSR Mining during the 3rd quarter worth approximately $74,000. Institutional investors own 68.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com upgraded SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, January 17th. UBS Group upped their price target on SSR Mining from $7.15 to $12.05 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. CIBC upped their price target on SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price target for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, SSR Mining has an average rating of "Hold" and a consensus target price of $9.93.

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SSR Mining Stock Down 0.6 %

SSRM stock traded down $0.07 during midday trading on Thursday, hitting $11.11. The company's stock had a trading volume of 1,512,512 shares, compared to its average volume of 2,699,295. The company has a market cap of $2.25 billion, a PE ratio of -8.61, a P/E/G ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 12 month low of $3.94 and a 12 month high of $11.37. 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 firm's 50-day moving average is $9.10 and its 200-day moving average is $7.17.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, equities research analysts forecast 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.