Allspring Global Investments Holdings LLC Trims Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Allspring Global Investments Holdings LLC decreased its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 43.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 482,639 shares of the basic materials company’s stock after selling 368,272 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of SSR Mining worth $5,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in shares of SSR Mining by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 106,394 shares of the basic materials company’s stock worth $1,565,000 after purchasing an additional 838 shares during the period. Charles Schwab Investment Management Inc. grew its position in SSR Mining by 3.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,346 shares of the basic materials company’s stock valued at $416,000 after buying an additional 924 shares during the period. Voya Investment Management LLC increased its holdings in SSR Mining by 4.2% in the fourth quarter. Voya Investment Management LLC now owns 28,427 shares of the basic materials company’s stock valued at $445,000 after buying an additional 1,134 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of SSR Mining by 9.8% in the first quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company’s stock worth $297,000 after acquiring an additional 1,143 shares during the period. Finally, Creative Planning boosted its stake in shares of SSR Mining by 10.0% during the 4th quarter. Creative Planning now owns 14,319 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 1,299 shares in the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SSRM has been the subject of several recent analyst reports. TD Securities lowered SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued an “underperform” rating and issued a $3.00 price target (down previously from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, UBS Group lowered shares of SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Stock Up 1.6 %

NASDAQ SSRM opened at $5.14 on Friday. The business has a fifty day moving average price of $4.74 and a 200 day moving average price of $9.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The company has a market cap of $1.04 billion, a P/E ratio of -10.08, a P/E/G ratio of 1.31 and a beta of 0.82. SSR Mining Inc. has a one year low of $3.76 and a one year 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 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $425.90 million during the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter last year, the company earned $0.12 earnings per share. Research analysts anticipate that SSR Mining Inc. will post 0.22 EPS for the current fiscal year.

About SSR Mining

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.