SSR Mining (TSE:SSRM) Stock Price Down 10.8% – Here’s Why

SSR Mining Inc. (TSE:SSRM) fell 10.8% during trading on Wednesday . The company traded as low as C$25.92 and last traded at C$27.25. 152,530 shares were traded during mid-day trading, a decline of 67% from the average session volume of 464,114 shares. The stock had previously closed at C$30.56.

Analysts Set New Price Targets

SSRM has been the subject of several recent research reports. National Bankshares increased their price target on SSR Mining from C$20.00 to C$24.75 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. TD Securities raised their price objective on SSR Mining from C$20.00 to C$24.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Finally, Scotiabank upgraded SSR Mining from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$19.00 to C$39.00 in a research note on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, SSR Mining presently has a consensus rating of “Hold” and a consensus target price of C$29.25.

SSR Mining Stock Down 10.0%

The stock has a 50-day moving average price of C$31.25 and a 200-day moving average price of C$22.28. The company has a market capitalization of C$5.57 billion, a P/E ratio of 35.27, a P/E/G ratio of 5.64 and a beta of 0.61. The company has a debt-to-equity ratio of 11.04, a current ratio of 3.91 and a quick ratio of 3.80.

About SSR Mining

SSR Mining Inc is a minerals company focused on mining precious metals in the Americas. More than half of Silver Standard’s revenue is attributable to the production of gold, with a significant portion derived from silver production. The company owns and operates the Marigold mine in Nevada, United States; the Seabee Gold Operation in Saskatchewan, Canada; and the Pirquitas mine in Argentina.