SSR Mining Inc. [SSRM] Stock trading around $16.29 per share: What’s Next?


SSR Mining Inc. [NASDAQ: SSRM] price plunged by -1.69 percent to reach at -$0.28. The company report on July 6, 2022 that SSR MINING ANNOUNCES CLOSING OF SALE OF PITARRILLA PROJECT TO ENDEAVOUR SILVER.

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SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) (“SSR Mining” or the “Company”) is pleased to announce that it has closed the sale of the Pitarrilla project in Durango, Mexico to Endeavour Silver Corp. (TSX: EDR; NYSE: EXK) (“Endeavour Silver”) following the receipt of all required regulatory approvals and satisfaction of all closing conditions. As consideration for the sale, SSR Mining received US$35 million in cash, US$35 million in shares of Endeavour Silver, and a 1.25% net smelter return royalty on the Pitarrilla property.

A sum of 2359231 shares traded at recent session while its average daily volume was at 2.72M shares. SSR Mining Inc. shares reached a high of $16.35 and dropped to a low of $15.44 until finishing in the latest session at $16.29.

The one-year SSRM stock forecast points to a potential upside of 40.76. The average equity rating for SSRM stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $27.50 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 1.01, with the Price to Sales ratio for SSRM stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 4.89. Price to Free Cash Flow for SSRM in the course of the last twelve months was 9.35 with Quick ratio for the last quarter at 4.50.

SSRM Stock Performance Analysis:

SSR Mining Inc. [SSRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.03. With this latest performance, SSRM shares dropped by -13.21% in over the last four-week period, additionally sinking by -4.29% over the last 6 months – not to mention a drop of -0.18% 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 36.55, with the RSI for the last a single of trading hit 35.90, and the three-weeks RSI is set at 38.02 for SSR Mining Inc. [SSRM]. The present Moving Average for the last 50 days of trading for this stock 19.09, while it was recorded at 16.49 for the last single week of trading, and 18.67 for the last 200 days.

Insight into SSR Mining Inc. 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.

SSR Mining Inc. [SSRM] Insider Position Details

There are presently around $1,976 million, or 63.50% 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 22,323,546, 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 $137.08 million in SSRM stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $119.85 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 August and at the time of the August reporting period, where 124 institutional holders increased their position in SSR Mining Inc. [NASDAQ:SSRM] by around 18,643,688 shares. Additionally, 68 investors decreased positions by around 8,981,523 shares, while 22 investors held positions by with 91,612,127 shares. The mentioned changes placed institutional holdings at 119,237,338 shares, according to the latest SEC report filing. SSRM stock had 48 new institutional investments in for a total of 5,318,018 shares, while 19 institutional investors sold positions of 3,574,754 shares during the same period.