Headlands Technologies LLC Invests $120,000 in SSR Mining Inc. (NASDAQ:SSRM)

Headlands Technologies LLC purchased a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,191 shares of the basic materials company’s stock, valued at approximately $120,000.

A number of other institutional investors have also recently modified their holdings of SSRM. AustralianSuper Pty Ltd acquired a new stake in SSR Mining in the fourth quarter valued at $50,352,000. American Century Companies Inc. lifted its stake in shares of SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock valued at $8,599,000 after purchasing an additional 493,695 shares during the period. U S Global Investors Inc. purchased a new stake in SSR Mining during the fourth quarter worth about $3,405,000. Scotia Capital Inc. grew its position in SSR Mining by 210.5% during the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock worth $4,660,000 after buying an additional 238,481 shares during the period. Finally, Van ECK Associates Corp increased its holdings in SSR Mining by 0.9% in the third quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company’s stock valued at $281,455,000 after buying an additional 180,685 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SSRM shares. TD Securities lowered SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. CIBC downgraded SSR Mining from a “sector outperform” rating to a “neutral” rating and decreased their target price for the stock from $18.50 to $6.00 in a research report on Wednesday, February 14th. UBS Group cut SSR Mining from a “buy” rating to a “neutral” rating and dropped their price target for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $3.00 price objective (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, SSR Mining currently has an average rating of “Hold” and an average price target of $6.63.

SSR Mining Trading Up 1.1 %

SSRM opened at $5.63 on Tuesday. The business’s fifty day simple moving average is $4.65 and its 200 day simple moving average is $8.70. SSR Mining Inc. has a 52 week low of $3.76 and a 52 week high of $17.72. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.23. The company had revenue of $425.90 million for the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same period in the prior year, the business earned $0.12 earnings per share. As a group, equities analysts predict that SSR Mining Inc. will post 0.18 EPS for the current 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.