Wall Street Analyst Downgrade SSR Mining Inc [SSRM]. What else is Wall St. saying

SSR Mining Inc [NASDAQ: SSRM] loss -0.43% or -0.02 points to close at $4.66 with a heavy trading volume of 4325796 shares. The company report on February 27, 2024 at 4:10 PM that SSR Mining Reports Fourth Quarter and Full-Year 2023 Results.

SSR Mining Inc. (Nasdaq/TSX: SSRM, ASX: SSR) (“SSR Mining” or the “Company”) reports consolidated financial results for the fourth quarter and full-year ended December 31, 2023. Subsequent to year-end 2023, on February 13, 2024, operations at Çöpler were suspended as a result of a significant slip on the heap leach pad (the “Çöpler Incident”). Nine individuals remain unaccounted for as a result. The Company is not, at this time, able to estimate or predict when it will resume operations at Çöpler. The Company is assessing the potential impacts on the business, cash flows, results of operations and financial condition.

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Rod Antal, Executive Chairman of SSR Mining, said, “Right now, our attention is focused at Çöpler. The events of February 13, 2024 were tragic and overshadow today’s results. We are heartbroken and sympathize with what we know is an extraordinarily stressful time for the families, friends and colleagues of the nine missing personnel.

The daily chart for SSRM points out that the company has recorded -67.86% loss over the past six months.

If we look at the average trading volume of 4.25M shares, SSRM reached to a volume of 4325796 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $6.13 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 2.90. 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 Neutral, with their previous recommendation back on February 22, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $6 to $3. The new note on the price target was released on February 20, 2024, representing the official price target for SSR Mining Inc stock. Previously, the target price had yet another drop from $14 to $6, while RBC Capital Mkts kept a Sector Perform rating on SSRM stock.

The Average True Range (ATR) for SSR Mining Inc is set at 0.51, with the Price to Sales ratio for SSRM stock in the period of the last 12 months amounting to 0.73. 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 6.39 with Quick ratio for the last quarter at 3.76.

Trading performance analysis for SSRM stock

SSR Mining Inc [SSRM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.87. With this latest performance, SSRM shares dropped by -50.69% in over the last four-week period, additionally sinking by -67.86% over the last 6 months – not to mention a drop of -65.63% 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 21.08, with the RSI for the last a single of trading hit 21.71, and the three-weeks RSI is set at 21.78 for SSR Mining Inc [SSRM]. The present Moving Average for the last 50 days of trading for this stock 9.06, while it was recorded at 4.57 for the last single week of trading, and 12.65 for the last 200 days.

SSR Mining Inc [SSRM]: A deeper dive into fundamental analysis

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.

SSR Mining Inc [SSRM]: An earnings per share (EPS) analysis

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.

An analysis of Institutional ownership at 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%.