Market Analysts see SSR Mining Inc. [SSRM] gaining to $22. Time to buy?


SSR Mining Inc. [NASDAQ: SSRM] slipped around -0.91 points on Monday, while shares priced at $17.93 at the close of the session, down -4.83%. The company report on June 27, 2022 that SSR MINING COMMENTS ON LOCAL TURKISH MEDIA REPORTS.

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SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) (“SSR Mining” or the “Company”) is aware of local Turkish media reports and a social media post from the Ministry of Environment indicating a potential temporary halt of operations at the Çöpler mine. The Company is seeking a formal response from the Ministry of Environment regarding the reports.

On June 21st, SSR Mining experienced a minor leak estimated at eight kilograms of cyanide within the diluted solution from a pipeline that pumps solution to the heap leach pad. This leak was within the mine operating area and was cleaned up immediately without any environmental impact or discharge from site. SSR Mining immediately notified the relevant authorities of the event.

SSR Mining Inc. stock is now 1.30% up from its year-to-date (YTD) trading value. SSRM Stock saw the intraday high of $18.13 and lowest of $14.845 per share. The company’s 52-week high price is 24.58, which means current price is +20.78% above from all time high which was touched on 04/18/22.

Compared to the average trading volume of 2.22M shares, SSRM reached a trading volume of 10359805 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 $27.75 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 2.00. 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.

UBS have made an estimate for SSR Mining Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 01, 2022. The new note on the price target was released on March 16, 2022, representing the official price target for SSR Mining Inc. stock.

The Average True Range (ATR) for SSR Mining Inc. is set at 1.11, with the Price to Sales ratio for SSRM stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 5.01. Price to Free Cash Flow for SSRM in the course of the last twelve months was 10.06 with Quick ratio for the last quarter at 4.50.

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 -5.18. With this latest performance, SSRM shares dropped by -10.31% in over the last four-week period, additionally plugging by 1.36% over the last 6 months – not to mention a rise of 14.64% 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 37.95, with the RSI for the last a single of trading hit 34.87, and the three-weeks RSI is set at 40.23 for SSR Mining Inc. [SSRM]. The present Moving Average for the last 50 days of trading for this stock 20.52, while it was recorded at 18.58 for the last single week of trading, and 18.59 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 +31.95 and a Gross Margin at +35.79. SSR Mining Inc.’s Net Margin is presently recorded at +24.97.

Return on Equity for this stock inclined to 10.45, with Return on Assets sitting at 6.96.

SSR Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 6.00.

Insider trade positions for SSR Mining Inc. [SSRM]

There are presently around $2,247 million, or 64.20% 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 22,323,546, which is approximately 7.465% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 8,272,592 shares of the stock with an approximate value of $155.86 million in SSRM stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $136.27 million in SSRM stock with ownership of nearly 109.851% 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 124 institutional holders increased their position in SSR Mining Inc. [NASDAQ:SSRM] by around 18,655,206 shares. Additionally, 72 investors decreased positions by around 9,174,749 shares, while 22 investors held positions by with 91,420,254 shares. The mentioned changes placed institutional holdings at 119,250,209 shares, according to the latest SEC report filing. SSRM stock had 47 new institutional investments in for a total of 5,307,018 shares, while 23 institutional investors sold positions of 3,763,559 shares during the same period.