Allspring Global Investments Holdings LLC Increases Stake in SSR Mining Inc. (NASDAQ:SSRM)

Allspring Global Investments Holdings LLC raised its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 30.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 629,372 shares of the basic materials company’s stock after acquiring an additional 146,733 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.31% of SSR Mining worth $2,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. CWM LLC lifted its position in SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 3,926 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of SSR Mining during the 4th quarter valued at about $40,000. Wedmont Private Capital purchased a new position in shares of SSR Mining during the 1st quarter valued at about $81,000. International Assets Investment Management LLC bought a new position in shares of SSR Mining during the 4th quarter valued at approximately $111,000. Finally, Headlands Technologies LLC purchased a new stake in SSR Mining in the 4th quarter worth approximately $120,000. Institutional investors own 68.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, SSR Mining has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Stock Down 0.4 %

SSRM opened at $4.46 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 3.07 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $5.12 and a 200 day moving average of $6.39. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $15.27.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. The business had revenue of $230.23 million during the quarter. As a group, sell-side analysts forecast that SSR Mining Inc. will post 0.46 earnings per share for the current fiscal year.

SSR Mining Company 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.