SSR Mining (TSE:SSRM) Shares Down 3.7% – Here’s Why

SSR Mining Inc. (TSE:SSRM)’s stock price fell 3.7% during trading on Wednesday . The company traded as low as C$41.04 and last traded at C$41.11. 276,446 shares changed hands during trading, a decline of 46% from the average session volume of 509,603 shares. The stock had previously closed at C$42.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SSRM shares. TD Securities lifted their price objective on shares of SSR Mining from C$45.00 to C$53.00 and gave the company a “buy” rating in a report on Thursday, March 5th. BMO Capital Markets raised shares of SSR Mining from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$27.00 to C$41.00 in a report on Thursday, March 5th. Finally, National Bank Financial raised shares of SSR Mining from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$43.00 to C$57.00 in a report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$47.50.

SSR Mining Stock Down 3.7%

The company’s fifty day simple moving average is C$41.66 and its 200-day simple moving average is C$36.57. The company has a debt-to-equity ratio of 1.88, a current ratio of 5.33 and a quick ratio of 3.80. The firm has a market capitalization of C$8.90 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 5.64 and a beta of 1.18.

SSR Mining (TSE:SSRM) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$1.60 earnings per share (EPS) for the quarter. SSR Mining had a net margin of 12.26% and a return on equity of 6.80%. The business had revenue of C$581.78 million for the quarter. On average, analysts forecast that SSR Mining Inc. will post 0.8051668 EPS for the current year.

About SSR Mining

SSR Mining Inc is an intermediate gold company with assets located in four jurisdictions: the USA, Türkiye, Canada, and Argentina. These assets are located within several of the world’s most prolific precious metal districts including the Çöpler mine along the Tethyan belt in Türkiye; the Marigold mine along the Battle Mountain-Eureka trend in Nevada, USA; the CC&V mine in the Cripple Creek Mining District of Colorado, USA; the Seabee mine along the Trans-Hudson Corridor in Saskatchewan, Canada; and the Puna mine along the Bolivian silver belt in Jujuy, Argentina.