SSR Mining Inc (SSRM) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. increased its stake in shares of SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 13,250.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,544,124 shares of the basic materials company’s stock after purchasing an additional 1,532,558 shares during the period. Shell Asset Management Co. owned 1.28% of SSR Mining worth $13,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in shares of SSR Mining during the 3rd quarter worth about $199,000. Raymond James & Associates raised its position in shares of SSR Mining by 36.6% during the 2nd quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 6,300 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of SSR Mining by 2,013.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 22,595 shares during the last quarter. BlackRock Inc. raised its position in shares of SSR Mining by 133.3% during the 2nd quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of SSR Mining by 76.0% during the 2nd quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock worth $265,000 after purchasing an additional 11,580 shares during the last quarter. Hedge funds and other institutional investors own 51.24% of the company’s stock.

A number of research firms have commented on SSRM. BidaskClub downgraded shares of SSR Mining from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. ValuEngine downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Howard Weil upgraded shares of SSR Mining from a “sector perform” rating to a “sector outperform” rating in a report on Friday, October 12th. Zacks Investment Research downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, Citigroup cut their price objective on shares of SSR Mining from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. SSR Mining currently has a consensus rating of “Buy” and a consensus target price of $11.88.

SSRM stock opened at $11.01 on Monday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.38 and a beta of -0.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.91 and a quick ratio of 6.29. SSR Mining Inc has a 12 month low of $7.64 and a 12 month high of $11.44.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Thursday, November 8th. The basic materials company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.06. The company had revenue of $115.03 million during the quarter, compared to the consensus estimate of $113.00 million. SSR Mining had a net margin of 6.12% and a return on equity of 3.14%. SSR Mining’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, sell-side analysts expect that SSR Mining Inc will post 0.24 earnings per share for the current year.

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SSR Mining Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; and the Seabee Gold Operation located in Saskatchewan, Canada.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for SSR Mining (NASDAQ:SSRM)

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