Sterling Capital Management LLC Boosts Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Sterling Capital Management LLC grew its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,459 shares of the basic materials company’s stock after purchasing an additional 5,790 shares during the quarter. Sterling Capital Management LLC’s holdings in SSR Mining were worth $623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its stake in 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 buying an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SSR Mining during the fourth quarter worth about $29,000. Allianz SE acquired a new position in shares of SSR Mining during the fourth quarter valued at about $30,000. Lincoln Capital LLC purchased a new position in shares of SSR Mining in the 4th quarter valued at approximately $70,000. Finally, HighTower Advisors LLC boosted its stake in SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 2,619 shares in the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SSRM has been the subject of a number of research analyst reports. National Bank Financial raised shares of SSR Mining to a “hold” rating in a report on Friday, March 21st. Royal Bank of Canada upgraded 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 note on Wednesday, February 5th. UBS Group boosted their price target on SSR Mining from $12.10 to $12.35 and gave the company a “buy” rating in a research note on Friday, April 11th. CIBC raised their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.03.

SSR Mining Stock Performance

NASDAQ SSRM opened at $10.84 on Friday. The firm has a market capitalization of $2.20 billion, a P/E ratio of -8.40, a PEG ratio of 0.37 and a beta of 0.30. The stock has a 50-day simple moving average of $10.20 and a two-hundred day simple moving average of $7.91. 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 Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $11.48.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share 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%. On average, equities analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

SSR Mining Profile

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.