Bank of New York Mellon Corp Reduces Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Bank of New York Mellon Corp lessened its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 588,775 shares of the basic materials company’s stock after selling 27,351 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of SSR Mining worth $4,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SSRM. Point72 DIFC Ltd purchased a new position in SSR Mining during the third quarter worth about $47,000. Lincoln Capital LLC purchased a new position in shares of SSR Mining during the 4th quarter worth approximately $70,000. Drive Wealth Management LLC acquired a new stake in SSR Mining in the 3rd quarter valued at approximately $74,000. HighTower Advisors LLC raised its position in SSR Mining by 24.8% in the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares during the period. Finally, TrinityPoint Wealth LLC purchased a new stake in SSR Mining in the third quarter valued at approximately $78,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $11.04 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -8.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The stock’s 50-day moving average is $9.03 and its two-hundred day moving average is $7.15. SSR Mining Inc. has a 1-year low of $3.94 and a 1-year high of $11.29.

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). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The company had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. Analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SSRM. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research report 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. Finally, Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.93.

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.