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SSR Mining Inc. (NASDAQ: SSRM): Can A Stock That’s Up 6.00% YTD Still Be Considered In Loss Territory?

During the recent session, SSR Mining Inc. (NASDAQ:SSRM)’s traded shares were 0.87 million, with the beta value of the company hitting 0.83. At the last…

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This article was originally published by The Marketing Sentinal

During the recent session, SSR Mining Inc. (NASDAQ:SSRM)’s traded shares were 0.87 million, with the beta value of the company hitting 0.83. At the last check today, the stock’s price was $16.98, reflecting an intraday gain of 2.23% or $0.37. The 52-week high for the SSRM share is $24.58, that puts it down -44.76 from that peak though still a striking 24.38% gain since the share price plummeted to a 52-week low of $12.84. The company’s market capitalization is $3.41B, and the average intraday trading volume over the past 10 days was 1.26 million shares, and the average trade volume was 1.39 million shares over the past three months.

SSR Mining Inc. (SSRM) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. SSRM has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.21.

SSR Mining Inc. (NASDAQ:SSRM) trade information

SSR Mining Inc. (SSRM) registered a 2.23% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.23% in intraday trading to $16.98 this Wednesday, 01/18/23, hitting a weekly high. The stock’s 5-day price performance is -2.58%, and it has moved by 12.53% in 30 days. Based on these gigs, the overall price performance for the year is 1.03%. The short interest in SSR Mining Inc. (NASDAQ:SSRM) is 7.62 million shares and it means that shorts have 5.61 day(s) to cover.

The consensus price target of analysts on Wall Street is $21.16, which implies an increase of 19.75% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $17.14 and $24.86 respectively. As a result, SSRM is trading at a discount of -46.41% off the target high and -0.94% off the low.

SSR Mining Inc. (SSRM) estimates and forecasts

Statistics show that SSR Mining Inc. has underperformed its competitors in share price, compared to the industry in which it operates. SSR Mining Inc. (SSRM) shares have gone down -0.30% during the last six months, with a year-to-date growth rate less than the industry average at -60.67% against 7.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -52.30% this quarter and then drop -16.10% in the quarter after that. In the rating firms’ projections, revenue will decrease -20.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $321 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $352.65 million by the end of Mar 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $407.92 million and $355.45 million respectively. In this case, analysts expect current quarter sales to shrink by -21.30% and then drop by -0.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 21.00%. While earnings are projected to return 74.20% in 2023.

SSRM Dividends

SSR Mining Inc. is due to release its next quarterly earnings on February 22. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for SSR Mining Inc. is 0.28, with the dividend yield indicating at 1.69 percent, continuing the trend of increasing dividends in recent years.

SSR Mining Inc. (NASDAQ:SSRM)’s Major holders

SSR Mining Inc. insiders own 0.55% of total outstanding shares while institutional holders control 67.41%, with the float percentage being 67.78%. Van Eck Associates Corporation is the largest shareholder of the company, while 360 institutions own stock in it. As of Sep 29, 2022, the company held over 21.38 million shares (or 10.35% of all shares), a total value of $360.3 million in shares.

The next largest institutional holding, with 11.3 million shares, is of Blackrock Inc.’s that is approximately 5.47% of outstanding shares. At the market price on Sep 29, 2022, these shares were valued at $190.49 million.

Also, the Mutual Funds coming in first place with the largest holdings of SSR Mining Inc. (SSRM) shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. Data provided on Nov 29, 2022 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 11.49 million shares. This amounts to just over 5.56 percent of the company’s overall shares, with a $193.53 million market value. The same data shows that the other fund manager holds slightly less at 7.76 million, or about 3.75% of the stock, which is worth about $130.68 million.


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