Renaissance Technologies LLC Cuts Position in SSR Mining Inc. (NASDAQ:SSRM)

Renaissance Technologies LLC lessened its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,323,126 shares of the basic materials company’s stock after selling 423,079 shares during the period. Renaissance Technologies LLC owned approximately 2.14% of SSR Mining worth $19,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alaska Permanent Fund Corp boosted its stake in shares of SSR Mining by 17.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock worth $5,216,000 after buying an additional 175,212 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of SSR Mining by 1,318.9% in the 1st quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after buying an additional 621,200 shares during the last quarter. National Bank of Canada FI lifted its stake in SSR Mining by 73.7% in the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares during the last quarter. Duality Advisers LP lifted its stake in SSR Mining by 239.1% in the first quarter. Duality Advisers LP now owns 264,975 shares of the basic materials company’s stock valued at $1,182,000 after purchasing an additional 186,829 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in SSR Mining by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after purchasing an additional 191,409 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SSRM shares. CIBC upped their price objective on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Finally, UBS Group dropped their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.89.

SSR Mining Trading Up 2.9 %

Shares of SSRM stock opened at $6.00 on Friday. The company’s fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $5.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.78. SSR Mining Inc. has a 1 year low of $3.76 and a 1 year high of $14.73. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.90, a PEG ratio of 0.58 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The business had revenue of $184.84 million for the quarter. As a group, analysts anticipate that SSR Mining Inc. will post 0.58 earnings per share for the current year.

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.