AQR Capital Management LLC Takes $227,000 Position in SSR Mining Inc. (NASDAQ:SSRM)

AQR Capital Management LLC bought a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 50,358 shares of the basic materials company’s stock, valued at approximately $227,000.

Several other hedge funds also recently bought and sold shares of the stock. CWM LLC grew its stake in shares of SSR Mining by 178.5% in the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after buying an additional 3,926 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SSR Mining in the second quarter valued at approximately $32,000. Abich Financial Wealth Management LLC acquired a new position in shares of SSR Mining in the first quarter valued at approximately $41,000. HB Wealth Management LLC purchased a new stake in SSR Mining during the 2nd quarter worth approximately $56,000. Finally, Xponance Inc. acquired a new stake in SSR Mining during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SSRM shares. CIBC boosted their price target on shares of SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. UBS Group boosted their target price on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.01.

SSR Mining Price Performance

Shares of SSRM opened at $5.82 on Friday. SSR Mining Inc. has a twelve month low of $3.76 and a twelve month high of $14.52. The firm’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $5.23. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -2.46, a PEG ratio of 0.60 and a beta of 0.73. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The business had revenue of $184.84 million for the quarter. Equities analysts forecast that SSR Mining Inc. will post 0.54 EPS for the current fiscal year.

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.