LPL Financial LLC Acquires 10,326 Shares of SSR Mining Inc. (NASDAQ:SSRM)

LPL Financial LLC grew its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 13.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 85,931 shares of the basic materials company’s stock after purchasing an additional 10,326 shares during the period. LPL Financial LLC’s holdings in SSR Mining were worth $598,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AXQ Capital LP purchased a new position in shares of SSR Mining during the fourth quarter valued at approximately $139,000. Sei Investments Co. boosted its holdings in SSR Mining by 36.1% during the 4th quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company’s stock worth $1,766,000 after acquiring an additional 67,369 shares during the last quarter. American Century Companies Inc. grew its stake in shares of SSR Mining by 99.3% in the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock worth $3,528,000 after acquiring an additional 252,293 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of SSR Mining by 109.8% in the fourth quarter. Quantbot Technologies LP now owns 140,007 shares of the basic materials company’s stock valued at $974,000 after purchasing an additional 73,277 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of SSR Mining during the fourth quarter valued at about $195,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

SSR Mining Price Performance

SSR Mining stock opened at $10.09 on Thursday. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $10.30 and its 200 day simple moving average is $8.04. SSR Mining Inc. has a 12 month low of $4.32 and a 12 month high of $11.48. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -7.82, a PEG ratio of 0.37 and a beta of 0.30.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. Sell-side analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SSRM. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Cormark raised SSR Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday. UBS Group lifted their price target on SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a report on Friday, April 11th. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, National Bank Financial upgraded SSR Mining to a “hold” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, SSR Mining has a consensus rating of “Hold” and an average target price of $10.03.

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.