Cibc World Market Inc. Buys 674,793 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Cibc World Market Inc. boosted its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 22.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,730,876 shares of the basic materials company’s stock after buying an additional 674,793 shares during the period. Cibc World Market Inc. owned approximately 1.84% of SSR Mining worth $25,967,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SSRM. Xponance Inc. bought a new stake in shares of SSR Mining during the second quarter valued at approximately $58,000. AQR Capital Management LLC acquired a new stake in SSR Mining in the 2nd quarter valued at $227,000. The Manufacturers Life Insurance Company increased its stake in SSR Mining by 45.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 242,046 shares of the basic materials company’s stock valued at $1,092,000 after purchasing an additional 75,473 shares in the last quarter. Quarry LP raised its holdings in SSR Mining by 119.7% during the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after buying an additional 5,649 shares during the last quarter. Finally, Truist Financial Corp bought a new position in shares of SSR Mining in the second quarter valued at $374,000. 68.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. UBS Group lifted their price target on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, SSR Mining currently has an average rating of “Hold” and an average target price of $5.18.

SSR Mining Stock Down 1.6 %

SSRM opened at $8.03 on Friday. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $9.85. The company’s 50-day moving average is $7.10 and its 200 day moving average is $6.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

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.