Amundi Decreases Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Amundi decreased its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 30.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,175,348 shares of the basic materials company’s stock after selling 524,486 shares during the period. Amundi’s holdings in SSR Mining were worth $8,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. US Bancorp DE grew its position in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SSR Mining during the fourth quarter worth $29,000. Point72 DIFC Ltd purchased a new stake in shares of SSR Mining during the third quarter valued at $47,000. Lincoln Capital LLC acquired a new position in shares of SSR Mining in the 4th quarter valued at $70,000. Finally, Drive Wealth Management LLC purchased a new position in SSR Mining in the 3rd quarter worth $74,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Trading Up 0.2 %

SSRM stock opened at $10.72 on Friday. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a 52-week low of $3.91 and a 52-week high of $10.91. The company’s 50-day simple moving average is $8.87 and its 200-day simple moving average is $7.04. The firm has a market cap of $2.17 billion, a P/E ratio of -8.31, a PEG ratio of 0.37 and a beta of 0.53.

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

Analysts Set New Price Targets

Several research firms have weighed in on SSRM. UBS Group boosted their price target on 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 upped their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. CIBC raised their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.