SSR Mining Inc. (NASDAQ:SSRM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 43.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 482,639 shares of the basic materials company’s stock after selling 368,272 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SSR Mining were worth $5,193,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in shares of SSR Mining by 9.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company’s stock worth $297,000 after buying an additional 1,143 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in SSR Mining by 31.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,454,876 shares of the basic materials company’s stock worth $31,644,000 after acquiring an additional 349,449 shares during the period. Canada Pension Plan Investment Board purchased a new position in SSR Mining in the first quarter worth $413,000. Cetera Investment Advisers purchased a new position in SSR Mining in the first quarter worth $202,000. Finally, Moors & Cabot Inc. acquired a new stake in SSR Mining in the first quarter valued at $212,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SSRM shares. Royal Bank of Canada reaffirmed an “underperform” rating and set a $3.00 price target (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Scotiabank cut shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. Desjardins downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their price objective for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 1.6 %

Shares of SSRM opened at $5.14 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $17.72. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -10.08, a price-to-earnings-growth ratio of 1.31 and a beta of 0.82. The firm has a 50 day simple moving average of $4.74 and a 200-day simple moving average of $9.12.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The company had revenue of $425.90 million during the quarter. During the same period in the previous year, the business posted $0.12 EPS. Equities analysts forecast that SSR Mining Inc. will post 0.22 EPS 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.