Cadence Wealth Management LLC Increases Position in SSR Mining Inc. (NASDAQ:SSRM)

Cadence Wealth Management LLC lifted its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,916 shares of the basic materials company’s stock after acquiring an additional 1,928 shares during the quarter. Cadence Wealth Management LLC’s holdings in SSR Mining were worth $342,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cibc World Market Inc. increased its position in shares of SSR Mining by 22.1% during the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock worth $25,967,000 after acquiring an additional 674,793 shares during the last quarter. Two Sigma Advisers LP increased its holdings in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after buying an additional 462,000 shares during the last quarter. Tidal Investments LLC increased its holdings in SSR Mining by 6.4% in the third quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock valued at $15,713,000 after buying an additional 166,130 shares during the last quarter. National Bank of Canada FI increased its holdings in SSR Mining by 3.8% in the third quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock valued at $15,551,000 after buying an additional 100,946 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in SSR Mining by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after buying an additional 220,349 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SSRM. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group lifted their target price on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, CIBC lifted their target price on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.93.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $10.99 on Tuesday. SSR Mining Inc. has a 12 month low of $3.91 and a 12 month high of $11.20. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -8.52, a PEG ratio of 0.37 and a beta of 0.53. The stock’s 50 day moving average price is $8.95 and its 200 day moving average price is $7.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The firm had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. Equities research analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal 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.