Rhumbline Advisers Increases Position in SSR Mining Inc. (NASDAQ:SSRM)

Rhumbline Advisers increased its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 76.3% in the second quarter, HoldingsChannel.com reports. The fund owned 323,311 shares of the basic materials company’s stock after buying an additional 139,944 shares during the period. Rhumbline Advisers’ holdings in SSR Mining were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of SSR Mining in the fourth quarter valued at about $127,000. Norges Bank purchased a new position in SSR Mining during the 4th quarter worth approximately $24,398,000. Franklin Resources Inc. lifted its stake in SSR Mining by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock valued at $36,470,000 after acquiring an additional 18,503 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of SSR Mining by 382.9% in the 4th quarter. Hsbc Holdings PLC now owns 94,152 shares of the basic materials company’s stock valued at $1,010,000 after acquiring an additional 74,653 shares during the last quarter. Finally, Ruffer LLP increased its stake in shares of SSR Mining by 17.8% in the fourth quarter. Ruffer LLP now owns 743,535 shares of the basic materials company’s stock worth $7,989,000 after acquiring an additional 112,276 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Stock Up 2.9 %

SSRM opened at $6.00 on Friday. The company has a fifty day moving average of $5.25 and a two-hundred day moving average of $5.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 3.54. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $14.73. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.90, a PEG ratio of 0.58 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $184.84 million during the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. On average, research analysts expect that SSR Mining Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SSRM shares. CIBC boosted their target price on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. UBS Group decreased their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.89.

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.