Semanteon Capital Management LP Invests $591,000 in SSR Mining Inc. (NASDAQ:SSRM)

Semanteon Capital Management LP bought a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 54,882 shares of the basic materials company’s stock, valued at approximately $591,000.

Several other institutional investors and hedge funds have also made changes to their positions in SSRM. International Assets Investment Management LLC bought a new stake in shares of SSR Mining during the fourth quarter worth $111,000. Teza Capital Management LLC bought a new stake in shares of SSR Mining during the third quarter worth $201,000. IFP Advisors Inc bought a new stake in shares of SSR Mining during the third quarter worth $221,000. Cerity Partners LLC bought a new stake in shares of SSR Mining during the fourth quarter worth $255,000. Finally, Hsbc Holdings PLC bought a new stake in shares of SSR Mining during the third quarter worth $259,000. 68.30% of the stock is currently owned by institutional investors.

SSR Mining Stock Up 0.9 %

SSRM traded up $0.05 on Friday, hitting $5.57. The company had a trading volume of 2,878,239 shares, compared to its average volume of 4,740,317. The stock has a fifty day moving average price of $4.62 and a 200-day moving average price of $8.87. SSR Mining Inc. has a 12-month low of $3.76 and a 12-month high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.82, a P/E/G ratio of 1.69 and a beta of 0.82.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SSRM. Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. TheStreet downgraded SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. TD Securities downgraded SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Royal Bank of Canada restated an “underperform” rating and issued a $3.00 price objective (down from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. Finally, Desjardins downgraded SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, SSR Mining presently has an average rating of “Hold” and an average 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.