Sei Investments Co. Acquires 67,369 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Sei Investments Co. raised its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 36.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 253,733 shares of the basic materials company’s stock after buying an additional 67,369 shares during the quarter. Sei Investments Co. owned about 0.13% of SSR Mining worth $1,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cibc World Market Inc. lifted its position in SSR Mining by 22.1% in the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after acquiring an additional 674,793 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of SSR Mining by 399.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after purchasing an additional 345,568 shares during the period. American Century Companies Inc. lifted its holdings in shares of SSR Mining by 99.3% in the fourth quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock valued at $3,528,000 after purchasing an additional 252,293 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after buying an additional 220,349 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

Analyst Upgrades and Downgrades

SSRM has been the topic of several research reports. UBS Group boosted their target price on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. National Bank Financial raised shares of SSR Mining to a “hold” rating in a research report on Friday, March 21st. CIBC boosted their price target on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Price Performance

NASDAQ:SSRM opened at $9.09 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of -7.05, a P/E/G ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 1-year low of $4.32 and a 1-year high of $11.48. The firm has a fifty day simple moving average of $9.80 and a 200 day simple moving average of $7.61. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, research analysts expect that SSR Mining Inc. will post 0.73 EPS for the current fiscal 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.