Martingale Asset Management L P Grows Position in SSR Mining Inc. (NASDAQ:SSRM)

Martingale Asset Management L P increased its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 115.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 407,996 shares of the basic materials company’s stock after purchasing an additional 219,013 shares during the quarter. Martingale Asset Management L P owned 0.20% of SSR Mining worth $2,317,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SSRM. Hsbc Holdings PLC acquired a new stake in shares of SSR Mining in the second quarter worth $3,289,000. National Bank of Canada FI increased its holdings in SSR Mining by 73.7% in the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares in the last quarter. Mackenzie Financial Corp increased its holdings in SSR Mining by 25.5% in the 2nd quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock valued at $3,992,000 after purchasing an additional 179,601 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in SSR Mining in the second quarter valued at about $1,672,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of SSR Mining by 62.2% during the second quarter. Bank of New York Mellon Corp now owns 779,778 shares of the basic materials company’s stock worth $3,517,000 after purchasing an additional 298,898 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of SSRM opened at $5.81 on Friday. SSR Mining Inc. has a 52-week low of $3.76 and a 52-week high of $12.04. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $5.87 and its two-hundred day moving average is $5.38.

Analysts Set New Price Targets

SSRM has been the topic of several analyst reports. StockNews.com downgraded SSR Mining from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group lifted their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $5.18.

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.