23,260 Shares in SSR Mining Inc. (NASDAQ:SSRM) Acquired by Cadence Wealth Management LLC

Cadence Wealth Management LLC purchased a new position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the fourth quarter, HoldingsChannel reports. The fund purchased 23,260 shares of the basic materials company’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in SSR Mining during the 4th quarter valued at $111,000. Headlands Technologies LLC acquired a new stake in SSR Mining during the 4th quarter valued at $120,000. Teza Capital Management LLC acquired a new stake in SSR Mining during the 3rd quarter valued at $201,000. Hsbc Holdings PLC acquired a new stake in SSR Mining during the 3rd quarter valued at $259,000. Finally, SG Americas Securities LLC acquired a new stake in SSR Mining during the 3rd quarter valued at $262,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Trading Up 0.9 %

Shares of SSRM stock traded up $0.05 during mid-day trading on Friday, hitting $5.57. 2,902,127 shares of the company’s stock were exchanged, compared to its average volume of 3,938,053. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 1.72 and a beta of 0.82. The stock has a 50-day simple moving average of $4.63 and a two-hundred day simple moving average of $8.78. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $17.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. The business had revenue of $425.90 million for the quarter. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. During the same period last year, the business posted $0.12 earnings per share. Equities analysts expect that SSR Mining Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on SSRM. TD Securities cut SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and lowered their target price for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. UBS Group cut SSR Mining from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $5.00 in a report on Thursday, February 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $3.00 price objective (down previously from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus price target of $6.63.

SSR Mining Company 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.