Proficio Capital Partners LLC Invests $158,000 in SSR Mining Inc. (NASDAQ:SSRM)

Proficio Capital Partners LLC acquired a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,676 shares of the basic materials company’s stock, valued at approximately $158,000.

A number of other hedge funds have also recently bought and sold shares of SSRM. CIBC Asset Management Inc increased its stake in SSR Mining by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after buying an additional 1,282 shares during the period. HB Wealth Management LLC boosted its holdings in shares of SSR Mining by 11.3% in the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after buying an additional 1,463 shares during the period. HighTower Advisors LLC boosted its holdings in shares of SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after buying an additional 2,619 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of SSR Mining by 9.8% in the 3rd quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock valued at $177,000 after buying an additional 2,788 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of SSR Mining by 1.1% in the 4th quarter. Rhumbline Advisers now owns 325,929 shares of the basic materials company’s stock valued at $2,268,000 after buying an additional 3,681 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SSRM. CIBC lifted their price target on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. UBS Group boosted their target price on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note 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. According to MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus target price of $9.93.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $10.24 on Thursday. The firm’s 50-day moving average is $8.73 and its 200-day moving average is $6.98. SSR Mining Inc. has a 52-week low of $3.91 and a 52-week high of $10.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -7.94, a PEG ratio of 0.37 and a beta of 0.53.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The business had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. Equities research analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share for the current year.

About SSR Mining

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.