GAMMA Investing LLC Acquires 14,296 Shares of SSR Mining Inc. (NASDAQ:SSRM)

GAMMA Investing LLC raised its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 1,608.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,185 shares of the basic materials company’s stock after purchasing an additional 14,296 shares during the period. GAMMA Investing LLC’s holdings in SSR Mining were worth $1,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in SSR Mining by 0.4% during the 4th quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company’s stock valued at $3,462,000 after acquiring an additional 1,884 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new position in shares of SSR Mining in the 4th quarter valued at approximately $679,000. B. Riley Wealth Advisors Inc. boosted its position in shares of SSR Mining by 10.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,000 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 2,000 shares in the last quarter. Mackenzie Financial Corp grew its stake in SSR Mining by 2.4% in the fourth quarter. Mackenzie Financial Corp now owns 119,071 shares of the basic materials company’s stock worth $831,000 after purchasing an additional 2,755 shares during the period. Finally, Vanguard Capital Wealth Advisors bought a new position in SSR Mining in the fourth quarter worth $154,000. Institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Up 2.3%

NASDAQ SSRM opened at $12.71 on Friday. 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 capitalization of $2.58 billion, a P/E ratio of -9.85, a P/E/G ratio of 0.37 and a beta of -0.13. SSR Mining Inc. has a one year low of $4.32 and a one year high of $13.33. The stock has a 50 day moving average price of $11.12 and a 200-day moving average price of $9.44.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.21. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The company had revenue of $303.43 million during the quarter, compared to the consensus estimate of $332.64 million. As a group, equities analysts predict that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on SSRM shares. UBS Group raised their price objective on SSR Mining from $12.10 to $12.35 and gave the company a “buy” rating in a research report on Friday, April 11th. Cormark raised SSR Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. National Bank Financial raised SSR Mining to a “hold” rating in a research report on Friday, March 21st. Wall Street Zen lowered SSR Mining from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, CIBC lifted their price target on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SSR Mining currently has an average rating of “Hold” and a consensus price target of $10.03.

SSR Mining Company 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.