Tue Sep 17 07:24:54 UTC 2024: ## Principal Financial Group Increases Stake in SSR Mining

**Toronto, Canada – September 17, 2024** – Principal Financial Group Inc. has boosted its holdings in SSR Mining Inc. (NASDAQ:SSRM) by 23.3% in the second quarter, according to HoldingsChannel. The firm now owns 19,899 shares of the precious metal mining company, valued at $90,000.

This move follows a trend of institutional investors showing interest in SSRM. CWM LLC significantly increased its position in the first quarter, while Creekmur Asset Management LLC, Abich Financial Wealth Management LLC, HB Wealth Management LLC, and Simplicity Wealth LLC all acquired new stakes in the company over the past year. Institutional investors now hold 68.30% of SSRM shares.

Analysts have also been paying attention to SSRM. UBS Group lowered its target price to $6.30 but maintained a “buy” rating, while StockNews.com upgraded the stock from “sell” to “hold”. CIBC raised its target price to $5.75 and gave the company a “neutral” rating. Overall, the consensus rating on SSRM is “Hold”, with a target price of $6.89.

SSR Mining recently reported strong second-quarter earnings, exceeding analysts’ expectations with $0.04 earnings per share and $184.84 million in revenue. The company operates mines in the United States, Turkey, Canada, and Argentina, extracting gold, copper, silver, lead, and zinc.

The company’s stock opened at $5.89 on Tuesday, with a 50-day moving average of $5.18 and a 200-day moving average of $4.98. SSRM has a market cap of $1.19 billion and a price-to-earnings-growth ratio of 0.57.

For more information on SSR Mining and its institutional holdings, visit HoldingsChannel.com.

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