Semanteon Capital Management LP Makes New $591,000 Investment in SSR Mining Inc. (NASDAQ:SSRM)

Semanteon Capital Management LP acquired a new position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 54,882 shares of the basic materials company’s stock, valued at approximately $591,000.

Several other hedge funds have also added to or reduced their stakes in SSRM. International Assets Investment Management LLC bought a new stake in SSR Mining in the fourth quarter worth about $111,000. Teza Capital Management LLC bought a new stake in SSR Mining in the third quarter worth about $201,000. IFP Advisors Inc bought a new stake in SSR Mining in the third quarter worth about $221,000. Cerity Partners LLC bought a new stake in SSR Mining in the fourth quarter worth about $255,000. Finally, Hsbc Holdings PLC purchased a new position in shares of SSR Mining in the third quarter worth about $259,000. Institutional investors own 68.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SSRM. Desjardins downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. TheStreet downgraded shares of SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. Royal Bank of Canada reiterated an “underperform” rating and issued a $3.00 target price (down previously from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. Finally, Scotiabank cut shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.63.

SSR Mining Price Performance

SSR Mining stock traded up $0.05 during mid-day trading on Friday, hitting $5.57. 2,878,239 shares of the company traded hands, compared to its average volume of 4,740,317. SSR Mining Inc. has a one year low of $3.76 and a one year high of $17.72. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -10.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The stock has a fifty day moving average price of $4.62 and a 200-day moving average price of $8.87.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.23. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The business had revenue of $425.90 million during the quarter. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, equities analysts predict that SSR Mining Inc. will post 0.18 earnings per share for the current fiscal year.

About SSR Mining

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.