MetLife Investment Management LLC Increases Stake in SSR Mining Inc. (NASDAQ:SSRM)

MetLife Investment Management LLC raised its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 129.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 118,642 shares of the basic materials company’s stock after acquiring an additional 66,850 shares during the quarter. MetLife Investment Management LLC’s holdings in SSR Mining were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SSR Mining in the second quarter valued at approximately $32,000. Quarry LP grew its stake in SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after buying an additional 5,649 shares in the last quarter. HB Wealth Management LLC bought a new stake in SSR Mining during the 2nd quarter valued at $56,000. SeaCrest Wealth Management LLC purchased a new stake in shares of SSR Mining during the third quarter worth $57,000. Finally, Xponance Inc. bought a new position in shares of SSR Mining in the second quarter worth $58,000. Institutional investors own 68.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SSRM shares. UBS Group increased their price objective on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of SSR Mining from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Stock Performance

Shares of SSRM opened at $6.35 on Friday. SSR Mining Inc. has a 12-month low of $3.76 and a 12-month high of $11.52. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.29 billion, a PE ratio of -2.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.69. The stock has a 50-day moving average price of $5.88 and a 200-day moving average price of $5.40.

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.