SSR Mining Inc. (NASDAQ: SSRM – Free Report) (TSE: SSO), a prominent player in the basic materials industry, has recently witnessed a significant increase in its stake held by Allspring Global Investments Holdings LLC. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, Allspring Global Investments Holdings LLC increased its ownership of SSR Mining stock by a whopping 43.8% in the first quarter.
The report revealed that Allspring Global Investments Holdings LLC now owns 1,263,847 shares of SSR Mining Inc. owns, after purchasing an additional 384,679 shares within the given period. The total value of this new bet is an impressive $19,109,000. This increase in positions indicates both confidence and optimism on the part of Allspring Global Investments Holdings LLC regarding the future prospects of SSR Mining.
However, it is not just investment companies that have shown interest in SSR Mining recently; Managing Director Arthur Michael Anglin also showed confidence in the company’s potential by acquiring 8,000 shares of SSR Mining in a transaction that took place on Friday, May 12. These shares were purchased at an average cost of $16.23 per share, resulting in a total investment of $129,840. This move further reinforces the positive sentiment surrounding SSR Mining’s growth trajectory.
As of this transaction date, director Arthur Michael Anglin directly owns 52,306 shares of SSR Mining stock valued at $848,926.38, according to the director’s disclosure through a legal filing with the SEC.
It is worth noting that insiders collectively own approximately 0.55% of SSR Mining’s shares, indicating that they believe not only in its current performance, but also in its potential for future success.
Friday morning trading sessions; shares of SSRM stock opened at $13.77 – an essential market indicator for current or prospective investors tracking price movements. SSR Mining Inc., with its diverse portfolio in the mining industry, has a 52-week low of $12.78 and a 52-week high of $17.75, underscoring the company’s ability to thrive through changing market conditions. navigation while offering sufficient growth prospects.
SSR Mining’s robust financial health is reflected in its low debt-to-equity ratio of 0.08. This demonstrates the company’s responsible approach to using leverage to fuel further expansion and mitigate potential risks associated with excessive debt.
SSR Mining maintains strong liquidity and exhibits a quick ratio of 3.28 and a current ratio of 5.35, reflecting its ability to meet short-term obligations with ease and highlighting its stable financial position.
In terms of price trends, SSR Mining has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $15.24 – indicators that give investors insight into possible future stock movements based on past price patterns. Such information improves investor decision-making when considering entry or exit points within the investment cycle.
With a market cap of $2.81 billion, SSR Mining presents itself as an attractive investment option within the basic materials sector – known for providing stability amid economic uncertainty.
The company also has an attractive price-to-earnings ratio (P/E) of 19.13, which is considered reasonable in the context of the industry.
In addition, SSR Mining boasts a PEG ratio of 4.10; this metric compares P/E ratio to expected earnings growth over time and serves as an evaluation tool for identifying undervalued or overvalued stocks relative to their expected growth rates.
In addition, SSR Mining maintains a beta value – a measurement used to indicate how volatile the stock is compared to the overall market – of 0.91; this implies that it is slightly less volatile than the broader market, suggesting that it can find stability amid unpredictable market conditions.
In conclusion, the increased importance of Allspring Global Investments Holdings LLC and the purchase of SSR Mining stock by CEO Arthur Michael Anglin indicate growing confidence in the company’s potential and ability to generate favorable returns. With impressive financial indicators and positive price trends, SSR Mining Inc. well positioned to thrive in the ever-evolving basic materials industry.
Investors seeking stability coupled with growth prospects within the industry would be wise to consider the solid fundamentals and recent developments surrounding SSR Mining, a company poised for continued success.
SSR Mining Inc.
Updated on: 01/07/2023
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Institutional Investors and Analysts React to Changes in SSR Mining Inc.’s Holdings
SSR Mining Inc, a basic materials company listed on NASDAQ (SSRM) and TSE (SSO), has recently seen changes in its holdings by institutional investors. Victory Capital Management Inc. increased its stake in SSR Mining by 8.5% during the fourth quarter and now owns 992,179 shares worth $15,547,000. AE Wealth Management LLC also acquired a new $229,000 position in SSR Mining in the same quarter.
CM Management LLC and Principal Financial Group Inc. also joined the list of recent investors in SSR Mining, with CM Management buying shares worth $235,000 and Principal Financial Group increasing its position by 27.2% with an additional 326,786 shares.
Notably, BOSS Retirement Advisors LLC also purchased shares of SSR Mining worth approximately $227,000 in the fourth quarter. These investments by institutional investors and hedge funds now amount to owning 61.19% of the company’s stock.
Equity research analysts have also weighed in on SSRM stocks. TheStreet downgraded its rating from “b-” to “c+” based on their latest research report dated May 15. Meanwhile, StockNews.com started reporting on SSR Mining and gave it a “hold” rating.
On the other hand, on May 12, director Arthur Michael Anglin made a significant purchase of 8,000 shares of SSR Mining at an average price of $16.23 per share for a total value of $129,840. Following this transaction, Anglin now owns 52,306 shares worth $848,926.
In terms of financial performance for the Q1 2020 reporting period ending May 4, SSR Mining reported earnings per share (EPS) of $0.10 with a net margin of 14.13% and return on equity (ROE) of 2 .44%. The company generated $314.61 million in revenue during the quarter. Analysts forecast that SSR Mining will post earnings per share of 1.15 for the full fiscal year.
In addition, SSR Mining recently announced a quarterly dividend that was paid on June 12 to the record holders on May 15. Shareholders received a dividend of $0.07 per share, resulting in an annualized dividend payout ratio of 38.89% and a dividend yield of 2.03%. The ex-dividend date for this distribution was May 12.
With these recent changes in positions by institutional investors, along with analyst commentary and the company’s financial performance, it will be interesting to see how SSR Mining Inc develops in the coming months. Investors and stakeholders should closely monitor further updates on SSRM shares and make informed decisions based on the latest developments in the company’s operations and the external environment.