Point72 Asia Singapore Pte. Ltd. Invests $32,000 in SSR Mining Inc. (NASDAQ:SSRM)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 7,194 shares of the basic materials company’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in shares of SSR Mining during the fourth quarter worth about $40,000. CWM LLC grew its holdings in shares of SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 3,926 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of SSR Mining during the first quarter worth about $41,000. HB Wealth Management LLC bought a new stake in SSR Mining in the second quarter valued at approximately $56,000. Finally, Xponance Inc. bought a new stake in SSR Mining in the second quarter valued at approximately $58,000. 68.30% of the stock is currently owned by institutional investors.

SSR Mining Price Performance

Shares of SSRM opened at $5.83 on Wednesday. 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 52-week low of $3.76 and a 52-week high of $14.52. The business’s 50 day moving average price is $5.31 and its two-hundred day moving average price is $5.10. The firm has a market cap of $1.18 billion, a PE ratio of -2.82, a price-to-earnings-growth ratio of 0.66 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. The business had revenue of $184.84 million during the quarter. On average, equities analysts anticipate that SSR Mining Inc. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SSRM shares. UBS Group reduced their target price on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a report on Thursday, August 8th. CIBC upped their target price on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Two equities 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 stock. According to MarketBeat.com, SSR Mining has a consensus rating of “Hold” and a consensus 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.