denkapparat Operations GmbH Makes New $100,000 Investment in SSR Mining Inc. (NASDAQ:SSRM)

denkapparat Operations GmbH bought a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,374 shares of the basic materials company’s stock, valued at approximately $100,000.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC acquired a new position in SSR Mining in the 3rd quarter valued at approximately $261,000. Charles Schwab Investment Management Inc. raised its holdings in shares of SSR Mining by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock worth $7,542,000 after acquiring an additional 75,563 shares in the last quarter. Quantbot Technologies LP boosted its position in SSR Mining by 27.1% during the third quarter. Quantbot Technologies LP now owns 66,730 shares of the basic materials company’s stock valued at $379,000 after purchasing an additional 14,223 shares during the last quarter. Townsquare Capital LLC purchased a new position in SSR Mining in the third quarter valued at about $139,000. Finally, MetLife Investment Management LLC increased its position in SSR Mining by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 118,642 shares of the basic materials company’s stock worth $674,000 after purchasing an additional 66,850 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $10.88 on Friday. The firm has a market capitalization of $2.20 billion, a PE ratio of -8.43, a PEG ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 1 year low of $4.32 and a 1 year high of $11.48. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $9.59 and its 200 day simple moving average is $7.45.

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

Analysts Set New Price Targets

SSRM has been the subject of several research reports. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. UBS Group upped their price objective 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. Finally, National Bank Financial upgraded SSR Mining to a “hold” rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.93.

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.