OppenheimerFunds Inc. lifted its position in SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 53.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 690,000 shares of the basic materials company’s stock after purchasing an additional 240,000 shares during the period. OppenheimerFunds Inc. owned about 0.57% of SSR Mining worth $6,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Natixis acquired a new position in SSR Mining during the first quarter worth $145,000. Compagnie Lombard Odier SCmA acquired a new position in SSR Mining during the first quarter worth $166,000. BlackRock Inc. raised its position in SSR Mining by 133.3% during the second quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 14,600 shares during the period. Oxbow Advisors LLC acquired a new position in SSR Mining during the second quarter worth $348,000. Finally, Legal & General Group Plc raised its position in SSR Mining by 133.2% during the first quarter. Legal & General Group Plc now owns 37,286 shares of the basic materials company’s stock worth $359,000 after acquiring an additional 21,294 shares during the period. Hedge funds and other institutional investors own 47.53% of the company’s stock.
A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of SSR Mining from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets upped their price objective on shares of SSR Mining from $11.75 to $12.50 and gave the stock an “outperform” rating in a research report on Friday. They noted that the move was a valuation call. BidaskClub upgraded shares of SSR Mining from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 19th. Howard Weil upgraded shares of SSR Mining from a “sector perform” rating to a “sector outperform” rating in a research report on Friday. Finally, Citigroup reduced their price objective on shares of SSR Mining from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $11.88.
Shares of SSR Mining stock traded up $1.16 during trading hours on Friday, reaching $10.58. 2,531,577 shares of the company’s stock were exchanged, compared to its average volume of 830,218. SSR Mining Inc has a 1 year low of $7.64 and a 1 year high of $11.44. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 31.12 and a beta of -0.36. The company has a quick ratio of 6.20, a current ratio of 8.67 and a debt-to-equity ratio of 0.24.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.08. SSR Mining had a net margin of 4.98% and a return on equity of 2.51%. The business had revenue of $104.00 million during the quarter, compared to analyst estimates of $107.90 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, research analysts anticipate that SSR Mining Inc will post 0.3 EPS for the current fiscal year.
SSR Mining Company Profile
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; and the Seabee Gold Operation located in Saskatchewan, Canada.
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