Raymond James & Associates Decreases Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Raymond James & Associates cut its position in SSR Mining Inc. (NASDAQ:SSRMGet Rating) (TSE:SSO) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,280 shares of the basic materials company’s stock after selling 28,025 shares during the quarter. Raymond James & Associates’ holdings in SSR Mining were worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SSRM. Vanguard Group Inc. raised its holdings in SSR Mining by 1.1% in the first quarter. Vanguard Group Inc. now owns 6,902,608 shares of the basic materials company’s stock valued at $150,132,000 after acquiring an additional 77,029 shares in the last quarter. Mackenzie Financial Corp raised its holdings in SSR Mining by 6.4% in the third quarter. Mackenzie Financial Corp now owns 6,234,853 shares of the basic materials company’s stock valued at $91,568,000 after acquiring an additional 375,884 shares in the last quarter. Franklin Resources Inc. raised its holdings in SSR Mining by 7.2% in the second quarter. Franklin Resources Inc. now owns 4,025,756 shares of the basic materials company’s stock valued at $67,236,000 after acquiring an additional 269,095 shares in the last quarter. Renaissance Technologies LLC raised its holdings in SSR Mining by 32.3% in the second quarter. Renaissance Technologies LLC now owns 3,319,543 shares of the basic materials company’s stock valued at $55,438,000 after acquiring an additional 810,400 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in SSR Mining by 0.8% in the first quarter. Invesco Ltd. now owns 2,207,886 shares of the basic materials company’s stock valued at $48,021,000 after acquiring an additional 17,363 shares in the last quarter. 57.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SSRM shares. TD Securities cut their price target on shares of SSR Mining from C$35.00 to C$34.00 in a report on Wednesday, November 9th. BMO Capital Markets dropped their target price on shares of SSR Mining from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, September 23rd. National Bank Financial increased their target price on shares of SSR Mining from C$23.00 to C$26.00 in a report on Friday, January 13th. StockNews.com initiated coverage on shares of SSR Mining in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Scotiabank dropped their target price on shares of SSR Mining from C$30.00 to C$29.50 in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

SSR Mining Stock Up 2.9 %

SSRM stock opened at $17.10 on Friday. The company has a quick ratio of 3.90, a current ratio of 5.79 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $24.58. The firm’s 50-day simple moving average is $15.71 and its 200 day simple moving average is $15.05. The stock has a market cap of $3.53 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 4.53 and a beta of 0.80.

SSR Mining (NASDAQ:SSRMGet Rating) (TSE:SSO) last released its quarterly earnings data on Tuesday, November 8th. The basic materials company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). SSR Mining had a return on equity of 5.35% and a net margin of 18.22%. The firm had revenue of $166.63 million during the quarter, compared to analyst estimates of $208.00 million. As a group, sell-side analysts predict that SSR Mining Inc. will post 0.7 EPS for the current year.

SSR Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Investors of record on Friday, November 18th were issued a $0.07 dividend. The ex-dividend date was Thursday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.64%. SSR Mining’s dividend payout ratio (DPR) is presently 27.18%.

Insider Buying and Selling

In related news, CEO Rodney Antal sold 15,777 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $16.61, for a total value of $262,055.97. Following the sale, the chief executive officer now owns 756,337 shares of the company’s stock, valued at approximately $12,562,757.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rodney Antal sold 15,777 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $16.61, for a total value of $262,055.97. Following the completion of the transaction, the chief executive officer now owns 756,337 shares in the company, valued at approximately $12,562,757.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steward John Beckman sold 5,400 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $14.50, for a total transaction of $78,300.00. Following the completion of the transaction, the chief operating officer now owns 130,205 shares of the company’s stock, valued at approximately $1,887,972.50. The disclosure for this sale can be found here. Insiders have sold a total of 25,086 shares of company stock valued at $405,284 in the last quarter. Company insiders own 0.51% of the company’s stock.

SSR Mining Profile

(Get Rating)

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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Institutional Ownership by Quarter for SSR Mining (NASDAQ:SSRM)

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