SSR Mining Inc. (NASDAQ:SSRM) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lessened its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 98.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,882 shares of the basic materials company's stock after selling 1,730,000 shares during the quarter. Summit Investment Advisors Inc.'s holdings in SSR Mining were worth $138,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SSRM. 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. SBI Securities Co. Ltd. purchased a new stake in shares of SSR Mining during the fourth quarter worth $29,000. Allianz SE acquired a new stake in shares of SSR Mining in the fourth quarter valued at $30,000. Lincoln Capital LLC purchased a new position in SSR Mining in the fourth quarter valued at $70,000. Finally, HighTower Advisors LLC grew its stake in SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock worth $75,000 after purchasing an additional 2,619 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Trading Down 2.8 %

Shares of SSR Mining stock opened at $10.09 on Thursday. The company has a fifty day simple moving average of $10.30 and a 200-day simple moving average of $8.04. SSR Mining Inc. has a 12-month low of $4.32 and a 12-month high of $11.48. 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 stock has a market cap of $2.04 billion, a price-to-earnings ratio of -7.82, 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $323.19 million for the quarter, compared to analysts' expectations of $262.20 million. On average, equities analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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