Blueshift Asset Management LLC Invests $195,000 in SSR Mining Inc. (NASDAQ:SSRM)

Blueshift Asset Management LLC bought a new position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,947 shares of the basic materials company’s stock, valued at approximately $195,000.

Several other hedge funds and other institutional investors have also modified their holdings of SSRM. US Bancorp DE boosted its position in SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in SSR Mining during the fourth quarter valued at $29,000. Point72 DIFC Ltd acquired a new stake in SSR Mining during the third quarter valued at $47,000. Lincoln Capital LLC acquired a new stake in SSR Mining during the fourth quarter valued at $70,000. Finally, HighTower Advisors LLC boosted its position in SSR Mining by 24.8% during the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $10.88 on Friday. SSR Mining Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $11.38. The business has a 50-day moving average of $9.24 and a two-hundred day moving average of $7.26. The stock has a market capitalization of $2.20 billion, a P/E ratio of -8.43, a P/E/G ratio of 0.37 and a beta of 0.53. 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 posted its quarterly earnings data 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). The business had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. On average, equities research analysts predict that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

SSR Mining Company Profile

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.