Van Eck Associates Corp. has recently announced that it has increased stake in SSR Mining Inc (NASDAQ:SSRM) by 0.86%. After grabbing 21.18 million shares, the institutional investor is now in possession of 0.18 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 10.39% having worth around $293.95 million. Moreover, The Vanguard Group, Inc. increased its share by 45869.0 to have a control over 5.55 million shares. And Global X Management Co. LLC raised its holdings to 0.11 million shares by acquiring 3.64 million shares or 1.79% of the stake.
SSR Mining Inc (SSRM) concluded trading on 12/13/23 at a closing price of $10.84, with 6.24 million shares of worth about $67.6 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -23.34% during that period and on Wednesday the price saw a gain of about 2.94%. Currently the company’s common shares owned by public are about 206.65M shares, out of which, 202.32M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the SSRM stock and their offered price forecasts bring an average price target of $16.55. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $22.50 and could fall to a lowest price of $12.50. The stock’s current price level is 34.5% above of average price target set by the analysts, while a rise to estimated low would result in gain of 13.28% for the stock. However, touching the estimated high of $22.50 would mean a gain of 51.82% for the stock.
VanEck Gold Miners ETF, BlackRock Global Funds – World Go, and VanEck Junior Gold Miners ETF are the top 3 mutual funds which are holding stakes in SSR Mining Inc VanEck Gold Miners ETF is currently holding 11.02 million shares of worth totaling $152.93 million. The company recently came buying 46682.0 shares which brought its stake up to 5.41% of the company’s outstanding shares. BlackRock Global Funds – World Go sold -0.68 million shares, after which its hold over company’s outstanding shares shrunk to 4.09%, leaving 8.34 million shares with the mutual fund that have a worth of about $115.79 million. VanEck Junior Gold Miners ETF, after buying 7.55 million shares, have now control over 3.71% of the stake in the company. It holds 10041.0 shares of worth $104.86 million.
SSR Mining Inc (NASDAQ: SSRM) started trading at $10.51, below -$0.02 from concluding price of the previous day. Stock saw a price change of -4.83% in past 5 days and over the past one month there was a price change of -4.83%. Year-to-date (YTD), SSRM shares are showing a performance of -30.82% which decreased to -28.35% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $10.52 but also hit the highest price of $17.74 during that period. The average intraday trading volume for SSR Mining Inc shares is 1.57 million. The stock is currently trading -5.48% below its 20-day simple moving average (SMA20), while that difference is down -12.81% for SMA50 and it goes to -23.17% lower than SMA200.
Van Eck Associates Corp. acquired 21.18 million shares of SSR Mining Inc having value of about $293.95 million. Data submitted at the U.S SEC by Van Eck Associates Corp. revealed that the firm now holds 0.18 million shares in the company valued at close to $1958625.4, or have control over 0.86% stake in the company. SSR Mining Inc (NASDAQ: SSRM) currently have 206.65M outstanding shares and institutions hold larger chunk of about 65.95% of that. Holding of mutual funds in the company is about 10.69% while other institutional holders and individual stake holders have control over 56.22% and 0.77% of the stake respectively.
The stock has a current market capitalization of $2.21B and its 3Y-monthly beta is at 1.00. PE ratio of stock for trailing 12 months is 10.71, while it has posted earnings per share of $1.01 in the same period. It has Quick Ratio of 3.76 while making debt-to-equity ratio of 0.09. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SSRM, volatility over the week remained 3.12% while standing at 2.97% over the month.
Analysts are in expectations that SSR Mining Inc (SSRM) stock would likely to be making an EPS of $Streamline Health Solutions, In in the current quarter, while forecast for next quarter EPS is $0.35 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $SRM Entertainment, Inc. which is $APPSWARM INC at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $U S STEM CELL INC in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 51.89% while it is estimated to decrease by -43.18% in next year.
Analysts at 10 brokerage firms have issued recommendations for the SSR Mining Inc (SSRM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.50. Out of those 10 Wall Street analysts, 8 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on November 20, 2023 offering an Underperform rating for the stock and assigned a target price range of between $17 and $12.50 to it.
