Olympiad Research LP Makes New $94,000 Investment in SSR Mining Inc. (NASDAQ:SSRM)

Olympiad Research LP bought a new stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,486 shares of the basic materials company’s stock, valued at approximately $94,000.

Several other institutional investors have also modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of SSR Mining in the 3rd quarter valued at about $47,000. Allspring Global Investments Holdings LLC bought a new position in SSR Mining during the 3rd quarter worth approximately $60,000. Lincoln Capital LLC acquired a new position in shares of SSR Mining in the 4th quarter worth approximately $70,000. Drive Wealth Management LLC bought a new stake in shares of SSR Mining in the 3rd quarter valued at approximately $74,000. Finally, HighTower Advisors LLC raised its position in shares of SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 2,619 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Stock Up 2.3 %

SSRM stock opened at $10.47 on Tuesday. The stock has a market cap of $2.12 billion, a PE ratio of -8.12, a price-to-earnings-growth ratio of 0.37 and a beta of 0.62. The firm’s 50-day simple moving average is $8.01 and its 200 day simple moving average is $6.58. SSR Mining Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $10.91. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

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

Analyst Ratings Changes

SSRM has been the subject of a number of research reports. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. UBS Group increased their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, CIBC lifted their target price on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.93.

SSR Mining Company 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.