Verition Fund Management LLC Purchases 67,657 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Verition Fund Management LLC boosted its position in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 177.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 105,763 shares of the basic materials company's stock after purchasing an additional 67,657 shares during the period. Verition Fund Management LLC owned about 0.05% of SSR Mining worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSRM. Principal Financial Group Inc. increased its stake in shares of SSR Mining by 23.3% during the 2nd quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company's stock worth $90,000 after purchasing an additional 3,760 shares during the last quarter. Quarry LP raised its stake in shares of SSR Mining by 119.7% in the second quarter. Quarry LP now owns 10,368 shares of the basic materials company's stock valued at $47,000 after buying an additional 5,649 shares during the period. Cadence Wealth Management LLC lifted its position in shares of SSR Mining by 17.1% during the 2nd quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company's stock valued at $213,000 after buying an additional 6,860 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SSR Mining during the 2nd quarter worth $32,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in SSR Mining by 18.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company's stock worth $207,000 after acquiring an additional 7,277 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Price Performance

Shares of SSRM stock traded up $0.58 during trading hours on Wednesday, reaching $8.12. The stock had a trading volume of 4,814,698 shares, compared to its average volume of 3,385,933. The stock's fifty day simple moving average is $5.99 and its 200 day simple moving average is $5.44. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.64 billion, a PE ratio of -3.40, a PEG ratio of 1.05 and a beta of 0.69. SSR Mining Inc. has a 12 month low of $3.76 and a 12 month high of $11.35.

Analyst Ratings Changes

A number of brokerages have weighed in on SSRM. StockNews.com lowered shares of SSR Mining from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th. UBS Group lifted their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.18.

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.