The Manufacturers Life Insurance Company grew its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 38.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,528,386 shares of the basic materials company’s stock after acquiring an additional 425,484 shares during the period. The Manufacturers Life Insurance Company owned about 1.24% of SSR Mining worth $28,434,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its stake in shares of SSR Mining by 39.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 666,859 shares of the basic materials company’s stock worth $8,443,000 after purchasing an additional 189,659 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in SSR Mining in the second quarter valued at $391,000. Parallel Advisors LLC purchased a new stake in SSR Mining in the second quarter valued at $31,000. Belpointe Asset Management LLC purchased a new stake in SSR Mining in the second quarter valued at $131,000. Finally, Assenagon Asset Management S.A. lifted its position in SSR Mining by 191.6% in the second quarter. Assenagon Asset Management S.A. now owns 75,526 shares of the basic materials company’s stock valued at $1,611,000 after acquiring an additional 49,626 shares during the last quarter. Institutional investors and hedge funds own 66.07% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. ValuEngine cut shares of SSR Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, November 11th. BidaskClub cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Scotiabank boosted their price target on shares of SSR Mining from $36.00 to $39.50 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Pi Financial reaffirmed a “buy” rating on shares of SSR Mining in a report on Thursday, September 17th. Finally, National Bank Financial assumed coverage on shares of SSR Mining in a report on Thursday, September 17th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. SSR Mining currently has an average rating of “Buy” and an average price target of $30.27.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Thursday, November 12th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.21. The firm had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $255.78 million. SSR Mining had a net margin of 9.50% and a return on equity of 8.99%. The firm’s revenue for the quarter was up 52.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts expect that SSR Mining Inc. will post 1.22 earnings per share for the current fiscal year.
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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