Alberta Investment Management Corp Grows Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Alberta Investment Management Corp increased its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 72.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,700 shares of the basic materials company’s stock after purchasing an additional 103,500 shares during the quarter. Alberta Investment Management Corp owned 0.12% of SSR Mining worth $1,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SSRM. CWM LLC raised its position in SSR Mining by 226.9% during the 3rd quarter. CWM LLC now owns 22,202 shares of the basic materials company’s stock worth $126,000 after buying an additional 15,411 shares during the last quarter. Creative Planning raised its holdings in SSR Mining by 26.0% during the third quarter. Creative Planning now owns 76,805 shares of the basic materials company’s stock worth $436,000 after purchasing an additional 15,870 shares in the last quarter. Blue Trust Inc. raised its holdings in SSR Mining by 2,017.8% during the third quarter. Blue Trust Inc. now owns 32,614 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 31,074 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SSR Mining in the third quarter valued at about $60,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in SSR Mining by 92.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,587 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 15,152 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SSRM shares. CIBC increased their target price on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group increased their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com upgraded 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 upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price target for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.93.

SSR Mining Stock Performance

Shares of SSRM stock opened at $10.23 on Friday. The stock has a fifty day moving average price of $7.89 and a 200 day moving average price of $6.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The stock has a market cap of $2.07 billion, a PE ratio of -7.93 and a beta of 0.62. SSR Mining Inc. has a 1 year low of $3.90 and a 1 year high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released 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 analysts’ expectations of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Sell-side analysts forecast that SSR Mining Inc. will post 0.73 earnings per share 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.