SeaCrest Wealth Management LLC purchased a new stake in SSR Mining Inc. (NASDAQ:SSRM – Get Rating) (TSE:SSO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,800 shares of the basic materials company’s stock, valued at approximately $47,000.
A number of other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in SSR Mining during the second quarter worth $198,000. Walleye Capital LLC purchased a new stake in SSR Mining during the second quarter worth $705,000. Baird Financial Group Inc. purchased a new stake in SSR Mining during the second quarter worth $755,000. Y Intercept Hong Kong Ltd purchased a new stake in SSR Mining during the second quarter worth $314,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in SSR Mining during the second quarter worth $441,000. 57.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on SSRM shares. TheStreet downgraded SSR Mining from a “b-” rating to a “c+” rating in a research report on Tuesday, August 30th. Scotiabank reduced their price objective on SSR Mining from C$33.50 to C$30.00 in a research report on Monday, October 24th. Canaccord Genuity Group reduced their price objective on SSR Mining from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 9th. StockNews.com started coverage on SSR Mining in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, National Bank Financial reduced their price objective on SSR Mining from C$23.50 to C$23.00 in a research report 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.92.
SSR Mining Stock Performance
SSR Mining Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Friday, November 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, November 17th. This represents a $0.28 annualized dividend and a yield of 1.94%. SSR Mining’s payout ratio is currently 27.18%.
Insider Activity at SSR Mining
In related news, COO Steward John Beckman sold 5,400 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $14.50, for a total value of $78,300.00. Following the completion of the transaction, the chief operating officer now directly owns 130,205 shares in the company, valued at $1,887,972.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 17,917 shares of company stock worth $256,377. 0.51% of the stock is currently owned by insiders.
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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