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

State of New Jersey Common Pension Fund D lifted its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 92.2% during the third quarter, Holdings Channel.com reports. The fund owned 31,587 shares of the basic materials company’s stock after acquiring an additional 15,152 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SSR Mining were worth $179,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in shares of SSR Mining during the second quarter worth about $3,289,000. Quadrature Capital Ltd grew its stake 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 acquiring an additional 621,200 shares during the last quarter. National Bank of Canada FI grew its stake 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 acquiring an additional 1,118,417 shares during the last quarter. Mackenzie Financial Corp grew its stake 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 acquiring an additional 179,601 shares during the last quarter. Finally, Paragon Capital Management Inc. purchased a new stake in shares of SSR Mining during the second quarter worth about $1,672,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Analysts Set New Price Targets

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

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.80 on Wednesday. The business’s 50 day moving average price is $5.86 and its 200 day moving average price is $5.35. The firm has a market cap of $1.17 billion, a P/E ratio of -2.43, a P/E/G ratio of 0.86 and a beta of 0.72. SSR Mining Inc. has a 52 week low of $3.76 and a 52 week high of $12.04. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08.

About SSR Mining

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.