CIBC Asset Management Inc Boosts Holdings in SSR Mining Inc. (NASDAQ:SSRM)

CIBC Asset Management Inc raised its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 248,064 shares of the basic materials company’s stock after purchasing an additional 1,282 shares during the period. CIBC Asset Management Inc owned 0.12% of SSR Mining worth $1,729,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake 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 valued at $8,794,000 after buying an additional 220,349 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after acquiring an additional 462,000 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of SSR Mining by 649.6% during the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after acquiring an additional 127,401 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of SSR Mining by 177.5% during the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock valued at $601,000 after acquiring an additional 67,657 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SSR Mining by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock valued at $7,542,000 after purchasing an additional 75,563 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SSRM shares. CIBC raised their price target on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group raised their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, SSR Mining presently has a consensus rating of “Hold” and an average price target of $9.93.

SSR Mining Price Performance

SSRM opened at $10.23 on Friday. SSR Mining Inc. has a 1 year low of $3.90 and a 1 year high of $10.91. The company’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $6.47. The stock has a market capitalization of $2.07 billion, a PE ratio of -7.93 and a beta of 0.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. As a group, sell-side analysts expect that SSR Mining Inc. will post 0.73 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.