Mackenzie Financial Corp Decreases Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Mackenzie Financial Corp cut its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,541,799 shares of the basic materials company’s stock after selling 616,472 shares during the quarter. Mackenzie Financial Corp owned about 1.25% of SSR Mining worth $27,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its stake in SSR Mining by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 106,394 shares of the basic materials company’s stock valued at $1,565,000 after buying an additional 838 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of SSR Mining by 3.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,346 shares of the basic materials company’s stock valued at $416,000 after purchasing an additional 924 shares during the period. Voya Investment Management LLC increased its holdings in shares of SSR Mining by 4.2% in the fourth quarter. Voya Investment Management LLC now owns 28,427 shares of the basic materials company’s stock valued at $445,000 after purchasing an additional 1,134 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of SSR Mining by 9.8% in the first quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company’s stock valued at $297,000 after purchasing an additional 1,143 shares during the period. Finally, Creative Planning increased its holdings in shares of SSR Mining by 10.0% in the fourth quarter. Creative Planning now owns 14,319 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 1,299 shares during the period. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

SSR Mining Price Performance

Shares of SSRM opened at $5.06 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. SSR Mining Inc. has a 12 month low of $3.76 and a 12 month high of $17.72. The stock’s 50 day moving average is $4.92 and its two-hundred day moving average is $9.18.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The company had revenue of $425.90 million for the quarter. During the same period in the previous year, the business posted $0.12 earnings per share. As a group, sell-side analysts expect that SSR Mining Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

SSRM has been the topic of a number of research reports. Desjardins lowered SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. CIBC lowered SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their price objective for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Finally, UBS Group lowered SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $17.00 to $5.00 in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, SSR Mining presently has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Profile

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.