Virtus Investment Advisers Inc. Buys New Position in SSR Mining Inc. (NASDAQ:SSRM)

Virtus Investment Advisers Inc. acquired a new position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 91,500 shares of the basic materials company's stock, valued at approximately $520,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of SSR Mining by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company's stock worth $37,034,000 after acquiring an additional 533,880 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in SSR Mining by 45.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company's stock worth $37,124,000 after purchasing an additional 2,587,212 shares in the last quarter. Two Sigma Advisers LP grew its holdings in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company's stock valued at $18,860,000 after purchasing an additional 462,000 shares during the last quarter. National Bank of Canada FI increased its position in shares of SSR Mining by 73.7% in the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company's stock valued at $11,815,000 after buying an additional 1,118,417 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SSR Mining by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company's stock worth $7,542,000 after buying an additional 75,563 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SSRM shares. UBS Group upped their target price on SSR Mining from $6.30 to $6.80 and gave the company a "buy" rating in a research note on Tuesday, October 15th. StockNews.com downgraded shares of SSR Mining from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, SSR Mining presently has an average rating of "Hold" and an average target price of $5.18.

SSR Mining Trading Up 4.3 %

SSR Mining stock traded up $0.26 during trading on Friday, hitting $6.35. The company's stock had a trading volume of 3,089,358 shares, compared to its average volume of 2,111,350. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The stock's fifty day moving average is $5.88 and its 200 day moving average is $5.40. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.66, a P/E/G ratio of 0.99 and a beta of 0.69. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $11.52.

About SSR Mining

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.