Van ECK Associates Corp Sells 668,258 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Van ECK Associates Corp trimmed its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,509,777 shares of the basic materials company’s stock after selling 668,258 shares during the period. Van ECK Associates Corp owned approximately 10.11% of SSR Mining worth $220,681,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of SSR Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,686,085 shares of the basic materials company’s stock valued at $102,148,000 after purchasing an additional 80,649 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of SSR Mining in the 4th quarter valued at approximately $50,352,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SSR Mining by 3.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock valued at $48,455,000 after purchasing an additional 111,218 shares during the last quarter. Invesco Ltd. lifted its stake in shares of SSR Mining by 1.2% in the 3rd quarter. Invesco Ltd. now owns 3,052,716 shares of the basic materials company’s stock valued at $40,571,000 after purchasing an additional 35,808 shares during the last quarter. Finally, Sprott Inc. lifted its stake in shares of SSR Mining by 5.3% in the 3rd quarter. Sprott Inc. now owns 1,931,270 shares of the basic materials company’s stock valued at $25,667,000 after purchasing an additional 97,937 shares during the last quarter. 68.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SSRM has been the topic of several recent analyst reports. UBS Group downgraded SSR Mining from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $17.00 to $5.00 in a report on Thursday, February 22nd. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Desjardins downgraded SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. CIBC downgraded SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. Finally, Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 1.1 %

SSRM traded up $0.06 during trading on Monday, hitting $5.63. 2,992,926 shares of the stock were exchanged, compared to its average volume of 4,719,087. The firm has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $8.75. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -10.92, a P/E/G ratio of 1.72 and a beta of 0.82. SSR Mining Inc. has a 1 year low of $3.76 and a 1 year 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.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $425.90 million for the quarter. During the same quarter in the prior year, the business posted $0.12 earnings per share. As a group, equities analysts expect that SSR Mining Inc. will post 0.18 EPS for the current year.

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.