SSR Mining Inc. (NASDAQ:SSRM) Short Interest Down 11.9% in February

SSR Mining Inc. (NASDAQ:SSRM – Get Rating) (TSE:SSO) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,560,000 shares, a drop of 11.9% from the February 13th total of 7,450,000 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 3.2% of the company’s shares are short sold.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $12.86 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 3.13. SSR Mining has a 1-year low of $12.78 and a 1-year high of $24.58. The company has a market capitalization of $2.66 billion, a P/E ratio of 14.45, a P/E/G ratio of 3.94 and a beta of 0.86. The firm’s 50 day simple moving average is $15.53 and its two-hundred day simple moving average is $14.83.

SSR Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Friday, March 3rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, March 2nd. SSR Mining’s dividend payout ratio is presently 31.46%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SSRM shares. TD Securities lowered their price target on shares of SSR Mining from C$36.00 to C$33.00 in a report on Monday, February 13th. Scotiabank decreased their price objective on SSR Mining from C$30.00 to C$29.50 in a report on Wednesday, January 18th. BMO Capital Markets decreased their price objective on SSR Mining from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, February 14th. Finally, National Bank Financial decreased their price objective on SSR Mining from C$26.00 to C$23.00 in a report on Tuesday, February 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, SSR Mining has an average rating of “Moderate Buy” and an average target price of $26.67.

Insider Buying and Selling

In other news, insider Michael John Sparks sold 2,323 shares of SSR Mining stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $13.31, for a total transaction of $30,919.13. Following the transaction, the insider now owns 146,048 shares in the company, valued at approximately $1,943,898.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Rodney Antal sold 15,777 shares of SSR Mining stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $16.61, for a total transaction of $262,055.97. Following the sale, the chief executive officer now directly owns 756,337 shares of the company’s stock, valued at approximately $12,562,757.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael John Sparks sold 2,323 shares of SSR Mining stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $13.31, for a total transaction of $30,919.13. Following the sale, the insider now directly owns 146,048 shares in the company, valued at $1,943,898.88. The disclosure for this sale can be found here. Insiders sold a total of 25,927 shares of company stock worth $410,052 over the last three months. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SSRM. Penn Capital Management Company LLC bought a new position in SSR Mining in the second quarter worth approximately $521,000. Prudential Financial Inc. purchased a new position in SSR Mining in the third quarter worth $511,000. Franklin Resources Inc. grew its holdings in SSR Mining by 7.2% in the second quarter. Franklin Resources Inc. now owns 4,025,756 shares of the basic materials company’s stock worth $67,236,000 after purchasing an additional 269,095 shares during the last quarter. Gabelli Funds LLC grew its holdings in SSR Mining by 28.5% in the third quarter. Gabelli Funds LLC now owns 847,032 shares of the basic materials company’s stock worth $12,460,000 after purchasing an additional 188,000 shares during the last quarter. Finally, Chartwell Investment Partners LLC grew its holdings in SSR Mining by 26.8% in the third quarter. Chartwell Investment Partners LLC now owns 330,835 shares of the basic materials company’s stock worth $4,866,000 after purchasing an additional 70,000 shares during the last quarter. Hedge funds and other institutional investors own 57.81% of the company’s stock.

SSR Mining Company Profile

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SSR Mining, Inc is a gold company. It engages in the operation, development, exploration, and acquisition of metal resource properties located in Turkey and the Americas. The firm operates through the following segments: Copler, Marigold, Seabee, Puna and the exploration, evaluation and development properties.