Olympiad Research LP Takes $94,000 Position in SSR Mining Inc. (NASDAQ:SSRM)

Olympiad Research LP bought a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,486 shares of the basic materials company’s stock, valued at approximately $94,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in shares of SSR Mining in the third quarter valued at $47,000. Allspring Global Investments Holdings LLC bought a new stake in SSR Mining in the third quarter worth about $60,000. Lincoln Capital LLC bought a new stake in SSR Mining in the fourth quarter worth about $70,000. Drive Wealth Management LLC acquired a new stake in SSR Mining in the 3rd quarter valued at about $74,000. Finally, HighTower Advisors LLC boosted its position in shares of SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Trading Up 2.3 %

SSR Mining stock opened at $10.47 on Tuesday. SSR Mining Inc. has a 52 week low of $3.90 and a 52 week high of $10.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -8.12, a P/E/G ratio of 0.37 and a beta of 0.62. The company has a 50 day moving average price of $8.01 and a 200 day moving average price of $6.58.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Research analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group boosted their target price on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday, February 18th. CIBC increased their price objective on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.93.

SSR Mining Company 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.