SSR Mining Inc (SSRM) Stake Decreased by Hexavest Inc.

Hexavest Inc. decreased its holdings in SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 28.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,943 shares of the basic materials company’s stock after selling 39,968 shares during the period. Hexavest Inc.’s holdings in SSR Mining were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in shares of SSR Mining by 2,013.8% in the second quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock worth $234,000 after acquiring an additional 22,595 shares during the period. Bank of America Corp DE boosted its stake in shares of SSR Mining by 76.0% in the second quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 11,580 shares during the period. Raymond James & Associates boosted its stake in shares of SSR Mining by 36.6% in the second quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 6,300 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of SSR Mining by 53.3% in the second quarter. OppenheimerFunds Inc. now owns 690,000 shares of the basic materials company’s stock worth $6,810,000 after acquiring an additional 240,000 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of SSR Mining by 6.2% in the second quarter. Van ECK Associates Corp now owns 16,948,833 shares of the basic materials company’s stock worth $167,285,000 after acquiring an additional 994,862 shares during the period. 47.53% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. ValuEngine raised SSR Mining from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and set a $12.50 price target (up from $11.75) on shares of SSR Mining in a research note on Friday. They noted that the move was a valuation call. BidaskClub raised SSR Mining from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 19th. Howard Weil raised SSR Mining from a “sector perform” rating to a “sector outperform” rating in a research note on Friday. Finally, Citigroup dropped their price target on SSR Mining from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. SSR Mining has a consensus rating of “Buy” and an average price target of $11.88.

Shares of SSR Mining stock opened at $10.58 on Friday. SSR Mining Inc has a 12 month low of $7.64 and a 12 month high of $11.44. The company has a market cap of $1.05 billion, a P/E ratio of 31.12 and a beta of -0.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.67 and a quick ratio of 6.20.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The company had revenue of $104.00 million during the quarter, compared to analyst estimates of $107.90 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was down 11.1% on a year-over-year basis. Research analysts predict that SSR Mining Inc will post 0.3 earnings per share for the current year.

SSR Mining Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; and the Seabee Gold Operation located in Saskatchewan, Canada.

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Institutional Ownership by Quarter for SSR Mining (NASDAQ:SSRM)

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