SSR Mining Inc. (NASDAQ:SSRM) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 20,509,777 shares of the basic materials company’s stock after selling 668,258 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of SSR Mining worth $220,681,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SSRM. International Assets Investment Management LLC acquired a new position in shares of SSR Mining during the 4th quarter worth approximately $111,000. Headlands Technologies LLC acquired a new position in SSR Mining in the 4th quarter valued at $120,000. Teza Capital Management LLC acquired a new position in SSR Mining in the 3rd quarter valued at $201,000. Cadence Wealth Management LLC acquired a new position in SSR Mining in the 4th quarter valued at $250,000. Finally, Cerity Partners LLC acquired a new position in SSR Mining in the 4th quarter valued at $255,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Stock Up 1.1 %

Shares of SSR Mining stock traded up $0.06 during trading on Monday, reaching $5.63. The company had a trading volume of 2,992,926 shares, compared to its average volume of 4,719,087. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -10.92, a price-to-earnings-growth ratio of 1.72 and a beta of 0.82. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $17.72. The firm’s fifty day moving average is $4.63 and its 200-day moving average is $8.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. The firm had revenue of $425.90 million for the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter last year, the company earned $0.12 EPS. On average, analysts anticipate that SSR Mining Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SSRM. UBS Group cut shares of SSR Mining from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. TD Securities cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. TheStreet cut shares of SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. Finally, CIBC cut shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and decreased their price objective for the company from $18.50 to $6.00 in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $6.63.

About SSR Mining

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.