Lazard Asset Management LLC bought a new position in shares of SSR Mining Inc. (NASDAQ:SSRM – Get Rating) (TSE:SSO) during the second quarter, HoldingsChannel.com reports. The firm bought 11,874 shares of the basic materials company’s stock, valued at approximately $198,000.
A number of other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of SSR Mining by 216.8% in the 1st quarter. SG Americas Securities LLC now owns 22,214 shares of the basic materials company’s stock valued at $483,000 after acquiring an additional 15,202 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in shares of SSR Mining in the 1st quarter valued at $1,562,000. Victory Capital Management Inc. raised its stake in shares of SSR Mining by 13.9% in the 1st quarter. Victory Capital Management Inc. now owns 914,627 shares of the basic materials company’s stock valued at $20,131,000 after acquiring an additional 111,505 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of SSR Mining by 3.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 54,228 shares of the basic materials company’s stock valued at $1,180,000 after acquiring an additional 1,783 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of SSR Mining by 178.0% in the 1st quarter. Russell Investments Group Ltd. now owns 137,842 shares of the basic materials company’s stock valued at $2,999,000 after acquiring an additional 88,255 shares during the period. Institutional investors and hedge funds own 57.70% of the company’s stock.
Insider Transactions at SSR Mining
In other news, COO Steward John Beckman sold 5,400 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $14.50, for a total value of $78,300.00. Following the completion of the sale, the chief operating officer now owns 130,205 shares of the company’s stock, valued at approximately $1,887,972.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 17,917 shares of company stock valued at $256,377. Insiders own 0.51% of the company’s stock.
SSR Mining Price Performance
SSR Mining Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Friday, November 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, November 17th. SSR Mining’s payout ratio is currently 27.18%.
Analyst Ratings Changes
A number of brokerages have recently commented on SSRM. TD Securities cut their target price on shares of SSR Mining from C$35.00 to C$34.00 in a research note on Wednesday, November 9th. TheStreet downgraded shares of SSR Mining from a “b-” rating to a “c+” rating in a research note on Tuesday, August 30th. Canaccord Genuity Group dropped their price target on shares of SSR Mining from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 9th. BMO Capital Markets dropped their price target on shares of SSR Mining from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, September 23rd. Finally, National Bank Financial dropped their price target on shares of SSR Mining from C$23.50 to C$23.00 in a research note on Thursday, November 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SSR Mining has a consensus rating of “Moderate Buy” and a consensus price target of $27.92.
About SSR Mining
SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.
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