Wells Fargo & Company MN lessened its holdings in shares of SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 45.0% in the second quarter, Holdings Channel.com reports. The firm owned 651,606 shares of the basic materials company’s stock after selling 532,689 shares during the period. Wells Fargo & Company MN’s holdings in SSR Mining were worth $8,908,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the business. GSA Capital Partners LLP purchased a new position in shares of SSR Mining in the second quarter worth about $724,000. Pinnacle Associates Ltd. purchased a new stake in shares of SSR Mining during the 2nd quarter valued at approximately $290,000. Gabelli Funds LLC lifted its stake in shares of SSR Mining by 582.0% during the 2nd quarter. Gabelli Funds LLC now owns 341,000 shares of the basic materials company’s stock valued at $4,661,000 after buying an additional 291,000 shares in the last quarter. Swiss National Bank lifted its stake in shares of SSR Mining by 2.1% during the 2nd quarter. Swiss National Bank now owns 225,211 shares of the basic materials company’s stock valued at $3,082,000 after buying an additional 4,700 shares in the last quarter. Finally, TD Asset Management Inc. boosted its holdings in SSR Mining by 6.8% in the 2nd quarter. TD Asset Management Inc. now owns 1,199,632 shares of the basic materials company’s stock worth $16,451,000 after buying an additional 76,900 shares during the period. Hedge funds and other institutional investors own 57.24% of the company’s stock.
SSRM traded down $0.02 on Friday, hitting $14.59. The company’s stock had a trading volume of 73,989 shares, compared to its average volume of 1,101,906. The company’s 50 day simple moving average is $16.17 and its 200-day simple moving average is $13.53. The firm has a market cap of $1.85 billion, a P/E ratio of 63.39 and a beta of -0.36. SSR Mining Inc has a 12 month low of $8.43 and a 12 month high of $17.56. The company has a quick ratio of 2.91, a current ratio of 4.02 and a debt-to-equity ratio of 0.15.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The company had revenue of $155.15 million during the quarter, compared to the consensus estimate of $143.00 million. SSR Mining had a net margin of 4.18% and a return on equity of 4.84%. SSR Mining’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Equities analysts predict that SSR Mining Inc will post 0.64 earnings per share for the current fiscal year.
Several research analysts recently commented on SSRM shares. BidaskClub downgraded shares of SSR Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 7th. TheStreet raised shares of SSR Mining from a “c” rating to a “b-” rating in a report on Monday, August 12th. Scotiabank raised shares of SSR Mining from a “sector perform” rating to a “sector outperform” rating and set a $17.00 price objective for the company in a report on Tuesday. BMO Capital Markets raised their price objective on shares of SSR Mining to $19.50 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, B. Riley raised their price objective on shares of SSR Mining from $16.70 to $18.70 and gave the stock a “neutral” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $17.31.
About SSR Mining
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; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.
Read More: What is the cash asset ratio?
Want to see what other hedge funds are holding SSRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO).
Receive News & Ratings for SSR Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SSR Mining and related companies with MarketBeat.com's FREE daily email newsletter.