Acadian Asset Management LLC Sells 899,265 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Acadian Asset Management LLC reduced its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 78.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 253,214 shares of the basic materials company’s stock after selling 899,265 shares during the period. Acadian Asset Management LLC’s holdings in SSR Mining were worth $4,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Nicola Wealth Management LTD. purchased a new position in shares of SSR Mining during the third quarter valued at approximately $5,243,000. LPL Financial LLC boosted its position in shares of SSR Mining by 35.8% during the third quarter. LPL Financial LLC now owns 21,716 shares of the basic materials company’s stock valued at $405,000 after buying an additional 5,727 shares during the period. Swiss National Bank boosted its position in shares of SSR Mining by 199.3% during the third quarter. Swiss National Bank now owns 828,849 shares of the basic materials company’s stock valued at $15,397,000 after buying an additional 551,938 shares during the period. BlackRock Inc. boosted its position in shares of SSR Mining by 66.5% during the third quarter. BlackRock Inc. now owns 6,602,243 shares of the basic materials company’s stock valued at $123,264,000 after buying an additional 2,636,880 shares during the period. Finally, Aperio Group LLC boosted its position in shares of SSR Mining by 75.6% during the third quarter. Aperio Group LLC now owns 18,343 shares of the basic materials company’s stock valued at $342,000 after buying an additional 7,897 shares during the period. 66.07% of the stock is currently owned by institutional investors.

Shares of NASDAQ SSRM opened at $18.47 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.16 and a current ratio of 8.96. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 39.30 and a beta of 1.05. The stock has a 50 day moving average price of $19.09 and a 200 day moving average price of $20.03. SSR Mining Inc. has a 52-week low of $9.00 and a 52-week high of $25.32.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Thursday, November 12th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.21. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $255.78 million. SSR Mining had a return on equity of 8.99% and a net margin of 9.50%. SSR Mining’s quarterly revenue was up 52.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share. Analysts forecast that SSR Mining Inc. will post 1.22 earnings per share for the current year.

Several research analysts have issued reports on the company. BidaskClub lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, September 29th. National Bank Financial assumed coverage on SSR Mining in a research report on Thursday, September 17th. They set an “outperform” rating for the company. Pi Financial restated a “buy” rating on shares of SSR Mining in a research report on Thursday, September 17th. ValuEngine lowered SSR Mining from a “hold” rating to a “sell” rating in a report on Wednesday, November 11th. Finally, Zacks Investment Research lowered SSR Mining from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $30.27.

SSR Mining Profile

SSR Mining Inc, a resource company, 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 southeastern Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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

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