Following The Money: Institution’s Growing Stake In SSR Mining Inc (NASDAQ: SSRM)

SSR Mining Inc (SSRM) concluded trading on Wednesday at a closing price of $4.80, with 5.85 million shares of worth about $28.07 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -62.53% during that period and on April 3, 2024 the price saw a gain of about 1.05%. Currently the company’s common shares owned by public are about 202.95M shares, out of which, 200.97M shares are available for trading.

Stock saw a price change of 16.22% in past 5 days and over the past one month there was a price change of 14.56%. Year-to-date (YTD), SSRM shares are showing a performance of -55.39% which decreased to -68.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.76 but also hit the highest price of $17.72 during that period. The average intraday trading volume for SSR Mining Inc shares is 4.98 million. The stock is currently trading 13.35% above its 20-day simple moving average (SMA20), while that difference is down -20.19% for SMA50 and it goes to -57.65% lower than SMA200.

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SSR Mining Inc (NASDAQ: SSRM) currently have 202.95M outstanding shares and institutions hold larger chunk of about 69.66% of that.

The stock has a current market capitalization of $971.81M and its 3Y-monthly beta is at 0.83. It has posted earnings per share of -$0.53 in the same period. It has Quick Ratio of 3.99 while making debt-to-equity ratio of 0.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SSRM, volatility over the week remained 4.71% while standing at 4.52% over the month.

Analysts are in expectations that SSR Mining Inc (SSRM) stock would likely to be making an EPS of -$0.09 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.23 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.3 which is $0.02 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -89.21% while it is estimated to increase by 46.99% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on February 22, 2024 offering a Neutral rating for the stock and assigned a target price range of between $17 and $5 to it. Coverage by RBC Capital Mkts stated SSR Mining Inc (SSRM) stock as an Underperform in their note to investors on February 20, 2024, suggesting a price target of $3 for the stock. Stock get a Sector perform rating from Scotiabank on February 14, 2024.

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