SSR Mining Inc. (NASDAQ:SSRM) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 97.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,500 shares of the basic materials company’s stock after selling 1,073,410 shares during the period. Intact Investment Management Inc.’s holdings in SSR Mining were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SSRM. Swiss National Bank lifted its stake in shares of SSR Mining by 0.6% in the 4th quarter. Swiss National Bank now owns 399,900 shares of the basic materials company’s stock valued at $2,792,000 after purchasing an additional 2,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SSR Mining in the 4th quarter valued at $1,265,000. Sequoia Financial Advisors LLC acquired a new position in shares of SSR Mining in the 4th quarter valued at $96,000. Proficio Capital Partners LLC acquired a new position in shares of SSR Mining in the 4th quarter valued at $158,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of SSR Mining by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company’s stock valued at $9,614,000 after purchasing an additional 51,408 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

SSRM stock opened at $10.72 on Friday. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.17 billion, a PE ratio of -8.31, a P/E/G ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 12-month low of $3.91 and a 12-month high of $10.91. The business’s fifty day moving average price is $8.87 and its 200 day moving average price is $7.05.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly 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 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 analysts’ expectations of $262.20 million. On average, sell-side analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SSRM shares. CIBC upped their price target 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 boosted their price objective on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday, February 18th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, SSR Mining has an average rating of “Hold” and a consensus target price of $9.93.

SSR Mining Profile

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.