Proficio Capital Partners LLC Takes $158,000 Position in SSR Mining Inc. (NASDAQ:SSRM)

Proficio Capital Partners LLC bought a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,676 shares of the basic materials company’s stock, valued at approximately $158,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cibc World Market Inc. raised its stake in shares of SSR Mining by 22.1% in the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after acquiring an additional 674,793 shares during the period. Two Sigma Advisers LP increased its holdings in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after acquiring an additional 462,000 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of SSR Mining by 399.1% during the third quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock worth $2,455,000 after buying an additional 345,568 shares during the period. JPMorgan Chase & Co. raised its stake in SSR Mining by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after acquiring an additional 220,349 shares during the last quarter. Finally, Martingale Asset Management L P lifted its position in SSR Mining by 115.9% during the 3rd quarter. Martingale Asset Management L P now owns 407,996 shares of the basic materials company’s stock worth $2,317,000 after acquiring an additional 219,013 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

Analyst Ratings Changes

SSRM has been the topic of several analyst reports. National Bank Financial raised shares of SSR Mining to a “hold” rating in a report on Friday, March 21st. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. UBS Group lifted their price objective on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research report on Tuesday, February 18th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Price Performance

SSRM stock opened at $10.88 on Friday. The stock’s 50 day moving average is $9.59 and its two-hundred day moving average is $7.45. SSR Mining Inc. has a 52-week low of $4.32 and a 52-week high of $11.48. The company has a market capitalization of $2.20 billion, a PE ratio of -8.43, a P/E/G ratio of 0.37 and a beta of 0.53. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. Analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

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.