Sumitomo Mitsui Trust Holdings Inc. Boosts Position in SSR Mining Inc. (NASDAQ:SSRM)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 2.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 793,378 shares of the basic materials company’s stock after acquiring an additional 18,043 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in SSR Mining were worth $11,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its stake in SSR Mining by 6.6% in the fourth quarter. Van ECK Associates Corp now owns 25,375,185 shares of the basic materials company’s stock worth $510,295,000 after purchasing an additional 1,573,564 shares during the period. BlackRock Inc. grew its stake in SSR Mining by 28.5% in the fourth quarter. BlackRock Inc. now owns 8,486,575 shares of the basic materials company’s stock worth $170,665,000 after purchasing an additional 1,884,332 shares during the period. Mackenzie Financial Corp grew its stake in SSR Mining by 27.1% in the fourth quarter. Mackenzie Financial Corp now owns 2,610,023 shares of the basic materials company’s stock worth $52,250,000 after purchasing an additional 556,174 shares during the period. Norges Bank purchased a new stake in shares of SSR Mining in the fourth quarter worth $51,018,000. Finally, CIBC Asset Management Inc grew its stake in shares of SSR Mining by 47.5% in the fourth quarter. CIBC Asset Management Inc now owns 2,427,676 shares of the basic materials company’s stock worth $48,636,000 after acquiring an additional 781,570 shares during the last quarter. 51.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SSRM opened at $17.26 on Monday. The company has a market cap of $3.80 billion, a P/E ratio of 35.23, a PEG ratio of 2.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.37 and a quick ratio of 3.67. SSR Mining Inc. has a 1 year low of $13.68 and a 1 year high of $25.32. The stock’s fifty day moving average price is $15.88 and its 200-day moving average price is $17.25.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Thursday, May 6th. The basic materials company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. SSR Mining had a return on equity of 7.81% and a net margin of 9.44%. The company had revenue of $366.48 million for the quarter, compared to the consensus estimate of $346.48 million. On average, sell-side analysts anticipate that SSR Mining Inc. will post 1.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 14th. Shareholders of record on Monday, May 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, May 14th.

A number of equities research analysts have recently commented on SSRM shares. Canaccord Genuity cut their target price on SSR Mining from $35.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 18th. JPMorgan Chase & Co. started coverage on SSR Mining in a research note on Wednesday, February 10th. They issued an “overweight” rating on the stock. National Bank Financial reaffirmed an “outperform” rating on shares of SSR Mining in a report on Tuesday, February 2nd. Finally, Zacks Investment Research downgraded SSR Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 21st. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.20.

SSR Mining Profile

SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, lead, and zinc deposits. Its projects include the Ãöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt and Lander Counties, 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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