State of New Jersey Common Pension Fund D Increases Stake in SSR Mining Inc. (NASDAQ:SSRM)

State of New Jersey Common Pension Fund D lifted its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 92.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,587 shares of the basic materials company’s stock after purchasing an additional 15,152 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SSR Mining were worth $179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in SSR Mining during the second quarter worth $3,289,000. Quadrature Capital Ltd lifted its position in shares of SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after purchasing an additional 621,200 shares during the last quarter. National Bank of Canada FI lifted its position in shares of SSR Mining by 73.7% during the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock worth $11,815,000 after purchasing an additional 1,118,417 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of SSR Mining by 25.5% during the second quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock worth $3,992,000 after purchasing an additional 179,601 shares during the last quarter. Finally, Paragon Capital Management Inc. bought a new stake in shares of SSR Mining during the second quarter worth $1,672,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group lifted their price objective on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.01.

SSR Mining Stock Performance

SSRM stock opened at $5.80 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -2.43, a PEG ratio of 0.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The business has a 50-day moving average price of $5.86 and a 200 day moving average price of $5.35. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $12.04.

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.