Amalgamated Bank Reduces Stake in SSR Mining Inc. (NASDAQ:SSRM)

Amalgamated Bank lowered its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 71.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,092 shares of the basic materials company’s stock after selling 17,607 shares during the quarter. Amalgamated Bank’s holdings in SSR Mining were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC lifted its stake in shares of SSR Mining by 178.5% in the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 3,926 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of SSR Mining in the 4th quarter valued at approximately $40,000. Abich Financial Wealth Management LLC purchased a new position in shares of SSR Mining in the 1st quarter valued at approximately $41,000. HB Wealth Management LLC purchased a new position in shares of SSR Mining in the 2nd quarter valued at approximately $56,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of SSR Mining in the 1st quarter valued at approximately $72,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Price Performance

NASDAQ SSRM opened at $5.83 on Wednesday. The business’s fifty day moving average is $5.31 and its 200 day moving average is $5.10. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $14.52. The company has a market capitalization of $1.18 billion, a PE ratio of -2.79, a price-to-earnings-growth ratio of 0.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 3.54.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. Sell-side analysts predict that SSR Mining Inc. will post 0.51 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group cut their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, August 8th. CIBC lifted their price objective on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.89.

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.