Voya Investment Management LLC Lowers Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Voya Investment Management LLC decreased its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,643 shares of the basic materials company’s stock after selling 4,967 shares during the period. Voya Investment Management LLC’s holdings in SSR Mining were worth $429,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 220,349 shares during the period. American Century Companies Inc. raised its stake in shares of SSR Mining by 99.3% during the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock worth $3,528,000 after buying an additional 252,293 shares during the period. Franklin Resources Inc. lifted its position in shares of SSR Mining by 649.6% during the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after buying an additional 127,401 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SSR Mining by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company’s stock worth $9,614,000 after acquiring an additional 51,408 shares during the period. Finally, Sei Investments Co. lifted its holdings in SSR Mining by 36.1% during the fourth quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company’s stock valued at $1,766,000 after purchasing an additional 67,369 shares in the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

SSR Mining Price Performance

NASDAQ:SSRM opened at $11.61 on Friday. SSR Mining Inc. has a one year low of $4.32 and a one year high of $11.61. The stock has a market cap of $2.35 billion, a PE ratio of -9.00, a P/E/G ratio of 0.37 and a beta of -0.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The stock has a 50 day moving average price of $10.44 and a 200 day moving average price of $8.45.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.08 by $0.21. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $332.64 million. Equities research analysts expect that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of 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 boosted their target price for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. CIBC increased their target price on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Cormark raised SSR Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. National Bank Financial raised SSR Mining to a “hold” rating in a research note on Friday, March 21st. Finally, UBS Group lifted their target price on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, SSR Mining has an average rating of “Hold” and an average price target of $10.03.

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.