Point72 Asia Singapore Pte. Ltd. Invests $32,000 in SSR Mining Inc. (NASDAQ:SSRM)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,194 shares of the basic materials company’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in SSR Mining by 382.9% in the fourth quarter. Hsbc Holdings PLC now owns 94,152 shares of the basic materials company’s stock valued at $1,010,000 after purchasing an additional 74,653 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in SSR Mining in the fourth quarter valued at about $192,000. Campbell & CO Investment Adviser LLC acquired a new position in SSR Mining in the fourth quarter valued at about $408,000. Cibc World Markets Corp acquired a new position in SSR Mining in the fourth quarter valued at about $1,506,000. Finally, Seven Eight Capital LP acquired a new position in SSR Mining in the fourth quarter valued at about $973,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SSRM shares. CIBC boosted their price target on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. UBS Group dropped their price target on SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.89.

SSR Mining Stock Performance

SSR Mining stock opened at $5.83 on Wednesday. SSR Mining Inc. has a 12-month low of $3.76 and a 12-month high of $14.52. The company has a quick ratio of 1.78, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $5.10. The stock has a market cap of $1.18 billion, a PE ratio of -2.82, a P/E/G ratio of 0.66 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released 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 positive return on equity of 5.01% and a negative net margin of 39.15%. The firm had revenue of $184.84 million for the quarter. As a group, analysts expect that SSR Mining Inc. will post 0.51 earnings per share for the current fiscal year.

SSR Mining 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.