Invesco Ltd. Lowers Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Invesco Ltd. reduced its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 52.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,292,849 shares of the basic materials company’s stock after selling 1,429,718 shares during the quarter. Invesco Ltd. owned about 0.64% of SSR Mining worth $8,998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Xponance Inc. grew its position in shares of SSR Mining by 9.3% during the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company’s stock worth $100,000 after buying an additional 1,222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in SSR Mining by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after acquiring an additional 1,282 shares in the last quarter. US Bancorp DE increased its position in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the period. HB Wealth Management LLC raised its holdings in shares of SSR Mining by 11.3% in the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of SSR Mining by 0.4% in the 4th quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company’s stock worth $3,462,000 after purchasing an additional 1,884 shares during the period. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SSRM has been the subject of a number of recent research reports. CIBC boosted their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. National Bank Financial upgraded SSR Mining to a “hold” rating in a research note on Friday, March 21st. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Finally, UBS Group lifted their price objective on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.03.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $10.09 on Thursday. SSR Mining Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The company has a market cap of $2.04 billion, a PE ratio of -7.82, a P/E/G ratio of 0.37 and a beta of 0.30. The business has a 50-day simple moving average of $10.30 and a two-hundred day simple moving average of $8.04.

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