Intech Investment Management LLC Takes Position in SSR Mining Inc. (NASDAQ:SSRM)

Intech Investment Management LLC acquired a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 45,891 shares of the basic materials company’s stock, valued at approximately $261,000.

Other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SSR Mining during the second quarter worth $32,000. Quarry LP lifted 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 acquiring an additional 5,649 shares in the last quarter. HB Wealth Management LLC acquired a new position in SSR Mining in the second quarter valued at about $56,000. SeaCrest Wealth Management LLC bought a new stake in shares of SSR Mining in the third quarter worth about $57,000. Finally, Xponance Inc. acquired a new stake in shares of SSR Mining during the second quarter worth about $58,000. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Price Performance

NASDAQ:SSRM opened at $6.09 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of -2.55, a P/E/G ratio of 0.99 and a beta of 0.69. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $5.39. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $11.64.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com cut SSR Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. UBS Group raised their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, SSR Mining currently has an average rating of “Hold” and a consensus price target of $5.18.

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.