Tidal Investments LLC Has $22.09 Million Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Tidal Investments LLC lifted its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,174,367 shares of the basic materials company’s stock after purchasing an additional 407,920 shares during the quarter. Tidal Investments LLC owned 1.57% of SSR Mining worth $22,094,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SSR Mining during the 4th quarter worth $29,000. Allianz SE acquired a new stake in shares of SSR Mining during the 4th quarter worth $30,000. Lincoln Capital LLC acquired a new stake in shares of SSR Mining during the 4th quarter worth $70,000. Finally, Olympiad Research LP acquired a new stake in shares of SSR Mining during the 4th quarter worth $94,000. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Price Performance

SSR Mining stock opened at $10.74 on Monday. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.18 billion, a PE ratio of -8.33, a P/E/G ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a 12 month low of $4.32 and a 12 month high of $11.61. The stock has a 50-day moving average price of $10.50 and a two-hundred day moving average price of $8.60.

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

Analysts Set New Price Targets

SSRM has been the topic of several analyst reports. National Bank Financial raised SSR Mining to a “hold” rating in a report on Friday, March 21st. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. CIBC raised their price objective on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. UBS Group raised their price objective on SSR Mining from $12.10 to $12.35 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Cormark raised SSR Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SSR Mining currently has an average rating of “Hold” and a consensus target price of $10.03.

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.