State of New Jersey Common Pension Fund D Acquires 15,128 Shares of SSR Mining Inc. (NASDAQ:SSRM)

State of New Jersey Common Pension Fund D boosted its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 47.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,715 shares of the basic materials company’s stock after purchasing an additional 15,128 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SSR Mining were worth $325,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC grew its position in shares of SSR Mining by 11.3% during the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 1,463 shares in the last quarter. HighTower Advisors LLC raised its stake in SSR Mining by 24.8% during the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock worth $75,000 after buying an additional 2,619 shares during the last quarter. Quantinno Capital Management LP grew its stake in SSR Mining by 9.8% during the third quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 2,788 shares during the period. Rhumbline Advisers lifted its position in shares of SSR Mining by 1.1% during the 4th quarter. Rhumbline Advisers now owns 325,929 shares of the basic materials company’s stock valued at $2,268,000 after acquiring an additional 3,681 shares during the period. Finally, Bleakley Financial Group LLC raised its position in shares of SSR Mining by 24.8% during the fourth quarter. Bleakley Financial Group LLC now owns 25,461 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 5,066 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Stock Performance

SSRM stock opened at $10.25 on Wednesday. The stock’s fifty day moving average price is $8.01 and its 200-day moving average price is $6.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The company has a market cap of $2.07 billion, a P/E ratio of -7.95, a price-to-earnings-growth ratio of 0.37 and a beta of 0.62. SSR Mining Inc. has a 1 year low of $3.90 and a 1 year high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The firm had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. On average, equities analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SSRM. CIBC increased their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. UBS Group raised their price target on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.93.

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.