Amundi Sells 524,486 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Amundi reduced its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 30.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,175,348 shares of the basic materials company’s stock after selling 524,486 shares during the quarter. Amundi owned approximately 0.58% of SSR Mining worth $8,803,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SSRM. CIBC Asset Management Inc boosted its position in SSR Mining by 0.5% in the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock valued at $1,729,000 after buying an additional 1,282 shares during the period. US Bancorp DE raised its stake in shares of SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 1,360 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of SSR Mining by 11.3% in the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 1,463 shares during the period. HighTower Advisors LLC grew its stake in SSR Mining by 24.8% in the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 2,619 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in SSR Mining by 9.8% in the third quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 2,788 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SSRM shares. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. CIBC increased their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, UBS Group boosted their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Trading Up 0.2 %

Shares of NASDAQ SSRM opened at $10.72 on Friday. SSR Mining Inc. has a 1-year low of $3.91 and a 1-year high of $10.91. The business has a fifty day moving average price of $8.87 and a 200 day moving average price of $7.04. The stock has a market capitalization of $2.17 billion, a P/E ratio of -8.31, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The firm had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. Equities research analysts expect that SSR Mining Inc. will post 0.73 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.