Jacobs Levy Equity Management Inc. Sells 519,188 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Jacobs Levy Equity Management Inc. cut its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 48.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 555,867 shares of the basic materials company’s stock after selling 519,188 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.27% of SSR Mining worth $3,157,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in SSR Mining during the 2nd quarter valued at $32,000. Quarry LP increased its holdings in shares of SSR Mining by 119.7% during the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 5,649 shares during the period. HB Wealth Management LLC acquired a new position in shares of SSR Mining during the second quarter valued at about $56,000. SeaCrest Wealth Management LLC bought a new stake in shares of SSR Mining in the third quarter valued at about $57,000. Finally, Xponance Inc. acquired a new stake in SSR Mining during the second quarter worth about $58,000. 68.30% of the stock is owned by institutional investors.

SSR Mining Trading Up 4.3 %

Shares of SSRM opened at $6.35 on Friday. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.29 billion, a PE ratio of -2.66, a PEG ratio of 0.99 and a beta of 0.69. SSR Mining Inc. has a 1 year low of $3.76 and a 1 year high of $11.52. The stock has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $5.40.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group upped their price target on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com lowered SSR Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.18.

SSR Mining Company 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.