CIBC World Markets Inc. Sells 27,699 Shares of SSR Mining Inc. (NASDAQ:SSRM)

CIBC World Markets Inc. lessened its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 14.6% during the first quarter, Holdings Channel.com reports. The fund owned 161,593 shares of the basic materials company’s stock after selling 27,699 shares during the period. CIBC World Markets Inc.’s holdings in SSR Mining were worth $2,308,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in shares of SSR Mining by 93.5% during the 1st quarter. International Assets Investment Management LLC now owns 2,359 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,140 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SSR Mining during the 4th quarter valued at about $149,000. Comerica Bank bought a new stake in shares of SSR Mining during the 4th quarter valued at about $207,000. HighTower Advisors LLC bought a new stake in shares of SSR Mining during the 4th quarter valued at about $208,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of SSR Mining by 5.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,432 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 781 shares in the last quarter. 48.54% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SSRM opened at $18.18 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.03 and a quick ratio of 4.23. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 3.64 and a beta of 1.03. SSR Mining Inc. has a one year low of $13.68 and a one year high of $25.32. The business’s 50-day simple moving average is $16.99.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Thursday, May 6th. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $366.48 million during the quarter, compared to analysts’ expectations of $346.48 million. SSR Mining had a net margin of 15.24% and a return on equity of 8.61%. As a group, analysts anticipate that SSR Mining Inc. will post 1.71 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 14th. Shareholders of record on Monday, May 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $0.20 annualized dividend and a yield of 1.10%.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of SSR Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 21st. Canaccord Genuity cut their target price on shares of SSR Mining from $35.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $27.00 price objective on shares of SSR Mining in a research note on Wednesday, June 2nd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. SSR Mining currently has a consensus rating of “Buy” and an average price target of $32.00.

SSR Mining Profile

SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, lead, and zinc deposits. Its projects include the Ãöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt and Lander Counties, 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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