Drive Wealth Management LLC Purchases New Position in SSR Mining Inc. (NASDAQ:SSRM)

Drive Wealth Management LLC purchased a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,097 shares of the basic materials company’s stock, valued at approximately $74,000.

Several other hedge funds have also bought and sold shares of SSRM. Hsbc Holdings PLC acquired a new position in shares of SSR Mining in the 2nd quarter valued at $3,289,000. Quadrature Capital Ltd grew its position in SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock valued at $2,976,000 after buying an additional 621,200 shares during the period. National Bank of Canada FI increased its holdings in SSR Mining by 73.7% in the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after buying an additional 1,118,417 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of SSR Mining by 25.5% in the second quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock worth $3,992,000 after acquiring an additional 179,601 shares during the period. Finally, Paragon Capital Management Inc. purchased a new stake in shares of SSR Mining during the 2nd quarter worth about $1,672,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group increased their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.01.

SSR Mining Trading Up 2.2 %

NASDAQ SSRM opened at $5.63 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The stock’s 50 day simple moving average is $5.85 and its 200-day simple moving average is $5.35. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $12.04.

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.