Van ECK Associates Corp Sells 1,847,321 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Van ECK Associates Corp lessened its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,837,984 shares of the basic materials company’s stock after selling 1,847,321 shares during the period. Van ECK Associates Corp owned approximately 8.32% of SSR Mining worth $117,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSRM. Cibc World Market Inc. increased its holdings in SSR Mining by 22.1% during the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock worth $25,967,000 after acquiring an additional 674,793 shares during the period. Two Sigma Advisers LP increased its holdings in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after buying an additional 462,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of SSR Mining by 399.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock worth $2,455,000 after buying an additional 345,568 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of SSR Mining by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after buying an additional 220,349 shares during the last quarter. Finally, Martingale Asset Management L P increased its holdings in shares of SSR Mining by 115.9% in the 3rd quarter. Martingale Asset Management L P now owns 407,996 shares of the basic materials company’s stock worth $2,317,000 after buying an additional 219,013 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SSRM shares. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, SSR Mining has an average rating of “Hold” and an average target price of $6.85.

SSR Mining Price Performance

Shares of SSR Mining stock opened at $9.34 on Friday. SSR Mining Inc. has a 52-week low of $3.90 and a 52-week high of $9.60. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -3.91 and a beta of 0.62. The company has a fifty day moving average of $7.59 and a 200-day moving average of $6.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91.

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.