SSR Mining Inc. [NASDAQ: SSRM] slipped around -1.23 points on Thursday, while shares priced at $16.18 at the close of the session, down -7.06%. The company report on June 8, 2021 that SSR Mining Announces US$200 Million Senior Secured Revolving Credit Facility.
SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX:SSR) (“SSR Mining” or “the Company”) announced that it has amended its existing undrawn revolving credit facility (the “Facility”) on favorable terms, increasing the Facility size from US$75 million to US$200 million. The new Facility includes an upsized accordion feature from US$25 million to US$100 million and the term of the Facility has been extended by 4 years to June 8, 2025.
Amounts that are borrowed under the Facility will incur variable interest at London Interbank Offered Rate plus an applicable margin ranging from 2.00% to 3.00%, determined based on the Company’s net leverage ratio and amounts drawn from the Facility. All debts, liabilities and obligations under the Facility are guaranteed by the Company’s material North American subsidiaries and secured by assets of the Company, certain of the material subsidiaries, and the pledges of material subsidiaries. The Facility may be used by the Company for working capital, reclamation bonding and other general corporate purposes.
SSR Mining Inc. stock is now -19.54% down from its year-to-date (YTD) trading value. SSRM Stock saw the intraday high of $16.9908 and lowest of $16.165 per share. The company’s 52-week high price is 25.32, which means current price is +18.27% above from all time high which was touched on 01/05/21.
Compared to the average trading volume of 1.74M shares, SSRM reached a trading volume of 2812414 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about SSR Mining Inc. [SSRM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SSRM shares is $11.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SSRM stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for SSR Mining Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 02, 2021. The new note on the price target was released on February 10, 2021, representing the official price target for SSR Mining Inc. stock. Previously, the target price had yet another raise to $28.50, while BofA Securities analysts kept a Buy rating on SSRM stock.
The Average True Range (ATR) for SSR Mining Inc. is set at 0.63, with the Price to Sales ratio for SSRM stock in the period of the last 12 months amounting to 3.46. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 3.96. Price to Free Cash Flow for SSRM in the course of the last twelve months was 15.54 with Quick ratio for the last quarter at 4.20.
How has SSRM stock performed recently?
SSR Mining Inc. [SSRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.00. With this latest performance, SSRM shares dropped by -11.92% in over the last four-week period, additionally sinking by -13.20% over the last 6 months – not to mention a drop of -12.02% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SSRM stock in for the last two-week period is set at 35.02, with the RSI for the last a single of trading hit 26.34, and the three-weeks RSI is set at 40.86 for SSR Mining Inc. [SSRM]. The present Moving Average for the last 50 days of trading for this stock 17.14, while it was recorded at 17.33 for the last single week of trading, and 17.82 for the last 200 days.
SSR Mining Inc. [SSRM]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and SSR Mining Inc. [SSRM] shares currently have an operating margin of +29.22 and a Gross Margin at +33.02. SSR Mining Inc.’s Net Margin is presently recorded at +15.65.
Return on Total Capital for SSRM is now 8.88, given the latest momentum, and Return on Invested Capital for the company is 5.41. Return on Equity for this stock inclined to 6.14, with Return on Assets sitting at 4.00. When it comes to the capital structure of this company, SSR Mining Inc. [SSRM] has a Total Debt to Total Equity ratio set at 14.98. Additionally, SSRM Total Debt to Total Capital is recorded at 13.03, with Total Debt to Total Assets ending up at 9.79. Long-Term Debt to Equity for the company is recorded at 12.74, with the Long-Term Debt to Total Capital now at 11.08.
Receivables Turnover for the company is 11.47 with a Total Asset Turnover recorded at a value of 0.26.SSR Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.20 and a Current Ratio set at 6.00.
Earnings analysis for SSR Mining Inc. [SSRM]
With the latest financial reports released by the company, SSR Mining Inc. posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SSRM.
Insider trade positions for SSR Mining Inc. [SSRM]
There are presently around $1,814 million, or 60.50% of SSRM stock, in the hands of institutional investors. The top three institutional holders of SSRM stocks are: VAN ECK ASSOCIATES CORP with ownership of 22,692,574, which is approximately -10.572% of the company’s market cap and around 3.30% of the total institutional ownership; BLACKROCK INC., holding 8,516,581 shares of the stock with an approximate value of $137.8 million in SSRM stocks shares; and VANGUARD GROUP INC, currently with $107.16 million in SSRM stock with ownership of nearly 4.143% of the company’s market capitalization.
Positions in SSR Mining Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 90 institutional holders increased their position in SSR Mining Inc. [NASDAQ:SSRM] by around 13,385,231 shares. Additionally, 82 investors decreased positions by around 14,913,270 shares, while 26 investors held positions by with 83,793,753 shares. The mentioned changes placed institutional holdings at 112,092,254 shares, according to the latest SEC report filing. SSRM stock had 30 new institutional investments in for a total of 5,164,301 shares, while 30 institutional investors sold positions of 4,262,769 shares during the same period.