RBC Capital Mkts slashes price target on SSR Mining Inc [SSRM] – find out why.

SSR Mining Inc [NASDAQ: SSRM] slipped around -0.29 points on Tuesday, while shares priced at $4.62 at the close of the session, down -5.91%. The company report on February 20, 2024 at 12:25 AM that SSR Mining Provides Further Update on Çöpler Incident and Full-Year 2023 Financial Results Release Date.

SSR Mining Inc. (Nasdaq/TSX: SSRM; ASX: SSR) (“SSR Mining” or the “Company”) provides an update on ongoing rescue efforts at the Çöpler mine in Türkiye as well as an amendment to the date of the Company’s full-year financial results.

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On February 19, 2024, Turkish Government authorities chose to temporarily suspend search and rescue activities in order to focus on stabilization of the heap leach area. SSR Mining continues to cooperate fully with all Government requests and is supporting efforts on site.

Compared to the average trading volume of 4.03M shares, SSRM reached a trading volume of 7844357 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 $7.11 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 2.89. 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 Underperform, with their previous recommendation back on February 20, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $14 to $6. The new note on the price target was released on February 15, 2024, representing the official price target for SSR Mining Inc 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 0.72. The Price to Book ratio for the last quarter was 0.26, with the Price to Cash per share for the same quarter was set at 2.29. Price to Free Cash Flow for SSRM in the course of the last twelve months was 6.34 with Quick ratio for the last quarter at 3.76.

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 -52.47. With this latest performance, SSRM shares dropped by -52.86% in over the last four-week period, additionally sinking by -67.30% over the last 6 months – not to mention a drop of -67.19% 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 16.96, with the RSI for the last a single of trading hit 15.67, and the three-weeks RSI is set at 18.72 for SSR Mining Inc [SSRM]. The present Moving Average for the last 50 days of trading for this stock 9.70, while it was recorded at 4.67 for the last single week of trading, and 12.96 for the last 200 days.

SSR Mining Inc [SSRM]: Deeper insight into the fundamentals

SSR Mining Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.76 and a Current Ratio set at 6.97.

Earnings analysis for SSR Mining Inc [SSRM]

With the latest financial reports released by the company, SSR Mining Inc posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. 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]

The top three institutional holders of SSRM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SSRM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SSRM stock with ownership which is approximately 5.8325%.