TrinityPoint Wealth LLC Takes $78,000 Position in SSR Mining Inc. (NASDAQ:SSRM)

TrinityPoint Wealth LLC bought a new position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,705 shares of the basic materials company’s stock, valued at approximately $78,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. increased its position in shares of SSR Mining by 45.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock valued at $37,124,000 after acquiring an additional 2,587,212 shares during the period. Tidal Investments LLC purchased a new position in SSR Mining during the 1st quarter valued at about $6,485,000. National Bank of Canada FI raised its position in SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares during the last quarter. Hsbc Holdings PLC bought a new position in SSR Mining during the 2nd quarter valued at approximately $3,289,000. Finally, Acadian Asset Management LLC lifted its holdings in SSR Mining by 111.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock worth $5,440,000 after buying an additional 637,161 shares during the period. 68.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, UBS Group boosted their target price on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.01.

SSR Mining Price Performance

SSRM stock opened at $5.63 on Tuesday. The firm has a 50-day moving average of $5.85 and a 200 day moving average of $5.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. SSR Mining Inc. has a 1 year low of $3.76 and a 1 year high of $12.04.

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.