SSR Mining Inc. (NASDAQ:SSRM) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,415 shares of the basic materials company’s stock after purchasing an additional 1,200 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of SSR Mining worth $1,686,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake in SSR Mining by 62.4% during the 4th 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in SSR Mining during the 4th quarter valued at $29,000. Allianz SE bought a new position in SSR Mining during the 4th quarter valued at $30,000. Lincoln Capital LLC bought a new position in SSR Mining during the 4th quarter valued at $70,000. Finally, Olympiad Research LP bought a new position in SSR Mining during the 4th quarter valued at $94,000. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Stock Up 7.7%

NASDAQ SSRM opened at $11.61 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The company’s 50 day simple moving average is $10.44 and its 200 day simple moving average is $8.46. SSR Mining Inc. has a 12 month low of $4.32 and a 12 month high of $11.61. The company has a market capitalization of $2.35 billion, a P/E ratio of -9.00, a PEG ratio of 0.37 and a beta of -0.15.

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

Analyst Ratings Changes

Several research analysts have recently commented on SSRM shares. CIBC lifted their price target on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. 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 company from $5.50 to $8.00 in a research note on Wednesday, February 5th. National Bankshares reissued a “sector perform” rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Finally, National Bank Financial raised shares of SSR Mining to a “hold” rating in a research note on Friday, March 21st. Five 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.com, the company currently has an average rating of “Hold” and a consensus 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.