Quantinno Capital Management LP Purchases 2,788 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Quantinno Capital Management LP lifted its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,107 shares of the basic materials company’s stock after buying an additional 2,788 shares during the period. Quantinno Capital Management LP’s holdings in SSR Mining were worth $177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SSRM. D. E. Shaw & Co. Inc. increased its holdings in SSR Mining by 45.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares in the last quarter. National Bank of Canada FI grew its position in shares of SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock worth $11,815,000 after buying an additional 1,118,417 shares during the period. Hsbc Holdings PLC bought a new stake in shares of SSR Mining in the 2nd quarter valued at $3,289,000. Acadian Asset Management LLC lifted its position in shares of SSR Mining by 111.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock valued at $5,440,000 after acquiring an additional 637,161 shares during the period. Finally, Paragon Capital Management Inc. bought a new position in SSR Mining during the second quarter worth $1,672,000. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Trading Down 0.4 %

NASDAQ:SSRM opened at $7.41 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. SSR Mining Inc. has a one year low of $3.76 and a one year high of $11.35. The company has a market cap of $1.50 billion, a PE ratio of -3.08, a PEG ratio of 1.23 and a beta of 0.69. The firm has a 50-day moving average of $6.06 and a 200-day moving average of $5.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group upped their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SSR Mining has an average rating of “Hold” and a consensus price target of $5.18.

About SSR Mining

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.