AXQ Capital LP Makes New $139,000 Investment in SSR Mining Inc. (NASDAQ:SSRM)

AXQ Capital LP bought a new stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,929 shares of the basic materials company’s stock, valued at approximately $139,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SSRM. US Bancorp DE lifted its stake in SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SSR Mining during the 4th quarter valued at $29,000. Point72 DIFC Ltd bought a new position in shares of SSR Mining during the 3rd quarter worth $47,000. Lincoln Capital LLC purchased a new stake in SSR Mining in the 4th quarter worth about $70,000. Finally, HighTower Advisors LLC raised its stake in SSR Mining by 24.8% in 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 during the period. 68.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. UBS Group raised 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. CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Three 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 company has a consensus rating of “Hold” and an average target price of $9.93.

SSR Mining Trading Down 0.6 %

Shares of SSR Mining stock opened at $10.81 on Tuesday. The company’s 50-day moving average price is $9.32 and its 200-day moving average price is $7.32. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a 12-month low of $3.96 and a 12-month high of $11.38. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -8.38, a PEG ratio of 0.37 and a beta of 0.53.

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

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.