Zacks Investment Management Lowers Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Zacks Investment Management decreased its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 13.1% during the 4th quarter, Holdings Channel reports. The fund owned 134,916 shares of the basic materials company’s stock after selling 20,252 shares during the quarter. Zacks Investment Management’s holdings in SSR Mining were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SSRM. XTX Topco Ltd acquired a new position in SSR Mining during the 4th quarter worth approximately $597,000. Sterling Capital Management LLC grew its holdings in SSR Mining by 6.9% during the fourth quarter. Sterling Capital Management LLC now owns 89,459 shares of the basic materials company’s stock worth $623,000 after acquiring an additional 5,790 shares during the period. Heritage Trust Co purchased a new position in SSR Mining in the fourth quarter worth $139,000. Federated Hermes Inc. lifted its holdings in SSR Mining by 53.9% in the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock valued at $25,551,000 after acquiring an additional 1,285,347 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of SSR Mining by 18.9% during the 4th quarter. Russell Investments Group Ltd. now owns 23,253 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 3,693 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SSR Mining Trading Down 1.3 %

Shares of SSRM opened at $10.84 on Friday. SSR Mining Inc. has a 1-year low of $4.32 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The firm has a 50 day simple moving average of $10.23 and a 200-day simple moving average of $7.95. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -8.40, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30.

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