CIBC Asset Management Inc Boosts Position in SSR Mining Inc (SSRM)

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CIBC Asset Management Inc increased its stake in SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) by 36.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 744,917 shares of the basic materials company’s stock after purchasing an additional 197,218 shares during the quarter. CIBC Asset Management Inc’s holdings in SSR Mining were worth $9,415,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI grew its stake in SSR Mining by 101.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 232,363 shares of the basic materials company’s stock valued at $2,809,000 after buying an additional 116,834 shares in the last quarter. Vanguard Group Inc grew its stake in SSR Mining by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 2,878,489 shares of the basic materials company’s stock valued at $25,071,000 after buying an additional 109,627 shares in the last quarter. Fiera Capital Corp grew its stake in SSR Mining by 138.9% in the 4th quarter. Fiera Capital Corp now owns 1,448,530 shares of the basic materials company’s stock valued at $17,543,000 after buying an additional 842,129 shares in the last quarter. Sigma Planning Corp grew its stake in SSR Mining by 29.2% in the 4th quarter. Sigma Planning Corp now owns 25,638 shares of the basic materials company’s stock valued at $310,000 after buying an additional 5,787 shares in the last quarter. Finally, Hexavest Inc. grew its stake in SSR Mining by 383.1% in the 1st quarter. Hexavest Inc. now owns 189,245 shares of the basic materials company’s stock valued at $2,393,000 after buying an additional 150,071 shares in the last quarter. 55.10% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of SSR Mining from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Zacks Investment Research upgraded shares of SSR Mining from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, April 30th. ValuEngine lowered shares of SSR Mining from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Finally, Scotiabank lowered shares of SSR Mining from an “outperform” rating to a “sector perform” rating and set a $12.00 price target for the company. in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $15.24.

SSRM opened at $11.04 on Wednesday. The firm has a market cap of $1.36 billion, a PE ratio of 48.00 and a beta of -0.59. The company has a quick ratio of 3.04, a current ratio of 4.36 and a debt-to-equity ratio of 0.15. SSR Mining Inc has a one year low of $8.11 and a one year high of $15.17.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The firm had revenue of $126.30 million during the quarter, compared to analyst estimates of $127.70 million. SSR Mining had a net margin of 3.43% and a return on equity of 4.38%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. Sell-side analysts forecast that SSR Mining Inc will post 0.35 EPS for the current fiscal year.

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About SSR Mining

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; 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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