Sterling Capital Management LLC Raises Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Sterling Capital Management LLC grew its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 89,459 shares of the basic materials company’s stock after acquiring an additional 5,790 shares during the quarter. Sterling Capital Management LLC’s holdings in SSR Mining were worth $623,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SSRM. US Bancorp DE lifted its position in shares of SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in SSR Mining during the 4th quarter worth $29,000. Allianz SE purchased a new stake in shares of SSR Mining during the fourth quarter worth $30,000. Lincoln Capital LLC acquired a new stake in shares of SSR Mining in the fourth quarter valued at about $70,000. Finally, HighTower Advisors LLC lifted its stake in shares of SSR Mining by 24.8% in the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock worth $75,000 after buying an additional 2,619 shares in the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Price Performance

NASDAQ:SSRM opened at $10.84 on Friday. SSR Mining Inc. has a 52 week low of $4.32 and a 52 week high of $11.48. The stock’s fifty day moving average is $10.20 and its two-hundred day moving average is $7.91. The company has a market capitalization of $2.20 billion, a P/E ratio of -8.40, a P/E/G ratio of 0.37 and a beta of 0.30. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

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

Wall Street Analysts Forecast Growth

SSRM has been the subject of a number of recent research reports. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. National Bank Financial raised SSR Mining to a “hold” rating in a research note on Friday, March 21st. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, UBS Group raised their price objective on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, SSR Mining presently has a consensus rating of “Hold” and a consensus price target of $10.03.

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.