Sumitomo Mitsui Trust Holdings Inc. Acquires 19,549 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,288 shares of the basic materials company’s stock after purchasing an additional 19,549 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.07% of SSR Mining worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in SSR Mining in the 4th quarter valued at approximately $111,000. Teza Capital Management LLC acquired a new position in shares of SSR Mining during the third quarter worth $201,000. IFP Advisors Inc acquired a new position in shares of SSR Mining during the third quarter worth $221,000. Hsbc Holdings PLC bought a new position in shares of SSR Mining in the 3rd quarter valued at $259,000. Finally, SG Americas Securities LLC acquired a new stake in shares of SSR Mining during the 3rd quarter valued at $262,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SSRM. Scotiabank cut SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. Desjardins downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. CIBC downgraded shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their target price for the stock from $18.50 to $6.00 in a research report on Wednesday, February 14th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, TheStreet downgraded shares of SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, SSR Mining has a consensus rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 2.0 %

SSRM opened at $5.47 on Thursday. The stock has a market cap of $1.10 billion, a PE ratio of -10.73, a price-to-earnings-growth ratio of 0.62 and a beta of 0.82. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. SSR Mining Inc. has a twelve month low of $3.76 and a twelve month high of $17.72. The company has a fifty day moving average of $4.61 and a 200-day moving average of $8.89.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The firm had revenue of $425.90 million during the quarter. During the same period last year, the business posted $0.12 earnings per share. On average, sell-side analysts predict that SSR Mining Inc. will post 0.48 EPS for the current year.

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.