Counterpoint Mutual Funds LLC Purchases New Stake in SSR Mining Inc. (NASDAQ:SSRM)

Counterpoint Mutual Funds LLC bought a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 161,620 shares of the basic materials company’s stock, valued at approximately $721,000. SSR Mining accounts for about 0.2% of Counterpoint Mutual Funds LLC’s holdings, making the stock its 10th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock valued at $8,599,000 after buying an additional 493,695 shares during the period. Scotia Capital Inc. raised its position in shares of SSR Mining by 210.5% during the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock worth $4,660,000 after purchasing an additional 238,481 shares during the period. Alaska Permanent Fund Corp raised its position 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 stake in shares of SSR Mining during the fourth quarter worth about $50,352,000. Finally, Jump Financial LLC acquired a new stake in shares of SSR Mining during the fourth quarter worth about $4,306,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Stock Up 3.2 %

SSR Mining stock traded up $0.14 during midday trading on Wednesday, reaching $4.57. The stock had a trading volume of 2,550,176 shares, compared to its average volume of 4,210,762. The firm’s fifty day simple moving average is $5.18 and its 200-day simple moving average is $6.59. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $15.27. The stock has a market capitalization of $923.60 million, a P/E ratio of -2.21, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.75 and a current ratio of 3.07.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.13. The firm had revenue of $230.23 million during the quarter. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. As a group, analysts expect that SSR Mining Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, Desjardins lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.63.

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.