Quantbot Technologies LP Buys 185,352 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Quantbot Technologies LP grew its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 75.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 432,287 shares of the basic materials company’s stock after buying an additional 185,352 shares during the quarter. Quantbot Technologies LP owned approximately 0.21% of SSR Mining worth $1,928,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of SSR Mining by 321.9% during the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after purchasing an additional 493,695 shares during the period. Alaska Permanent Fund Corp lifted its holdings in shares of SSR Mining by 17.6% during the first quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock worth $5,216,000 after purchasing an additional 175,212 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of SSR Mining during the fourth quarter worth $50,352,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SSR Mining by 5.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock worth $16,003,000 after purchasing an additional 191,409 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in shares of SSR Mining by 185.6% during the first quarter. GSA Capital Partners LLP now owns 351,496 shares of the basic materials company’s stock worth $1,568,000 after purchasing an additional 228,413 shares during the period. Institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Performance

Shares of NASDAQ SSRM remained flat at $5.11 during trading on Friday. 3,080,632 shares of the stock traded hands, compared to its average volume of 4,337,505. The firm has a fifty day moving average of $5.02 and a two-hundred day moving average of $6.11. SSR Mining Inc. has a 52-week low of $3.76 and a 52-week high of $15.27. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -2.47, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.07 and a quick ratio of 1.75.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.13. The firm had revenue of $230.23 million for the quarter. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. On average, analysts predict that SSR Mining Inc. will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th. CIBC boosted their target price on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Wednesday. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.56.

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.