Cibc World Markets Corp Invests $132,000 in SSR Mining Inc. (NASDAQ:SSRM)

Cibc World Markets Corp bought a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,992 shares of the basic materials company’s stock, valued at approximately $132,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SSRM. US Bancorp DE raised its position in SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in SSR Mining in the fourth quarter valued at approximately $29,000. Point72 DIFC Ltd purchased a new position in SSR Mining in the third quarter worth approximately $47,000. Lincoln Capital LLC acquired a new position in SSR Mining during the 4th quarter worth approximately $70,000. Finally, HighTower Advisors LLC increased its position in shares of SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Stock Performance

Shares of SSR Mining stock opened at $11.21 on Friday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -8.69, a PEG ratio of 0.37 and a beta of 0.53. The firm’s fifty day simple moving average is $9.53 and its 200-day simple moving average is $7.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. SSR Mining Inc. has a 12 month low of $4.30 and a 12 month high of $11.38.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $323.19 million for 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%. As a group, equities analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SSRM. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. National Bank Financial raised SSR Mining to a “hold” rating in a research report on Friday, March 21st. CIBC upped their price target on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, UBS Group raised their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, SSR Mining currently has a consensus rating of “Hold” and an average 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.