SSR Mining (TSE:SSRM) Stock Price Down 7.4% - Here's Why

Key Points

• SSR Mining shares fell 7.4% to C$40.93, with trading volume down 27% from its average; the stock remains below its 50-day moving average of C$49.14.
• Analysts remain bullish despite the decline: six analysts rate the stock Buy, with an average price target of C$51.00. ATB Cormark raised its target to C$64.00, while TD set a C$52.00 target.
• The company reported quarterly revenue of C$630.54 million and EPS of C$0.94, and recently paid a quarterly dividend of $0.03, equivalent to a 0.3% annualized yield.

SSR Mining Inc. (TSE:SSRM - Get Free Report) shares were down 7.4% during trading on Thursday. The stock traded as low as C$40.71 and last traded at C$40.93. 355,526 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 483,744 shares. The stock had previously closed at C$44.20.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSRM. ATB Cormark Capital Markets lifted their price target on SSR Mining from C$59.00 to C$64.00 and gave the company an "outperform" rating in a research note on Thursday, October 1st. TD set a C$52.00 price objective on SSR Mining and gave the stock a "buy" rating in a report on Thursday, October 1st. Six analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$51.00.

SSR Mining Trading Down 7.4%

The stock has a market cap of C$8.86 billion, a PE ratio of 36.87, a P/E/G ratio of 5.64 and a beta of 1.59. The business's fifty day moving average is C$49.14 and its 200 day moving average is C$44.11. The company has a quick ratio of 3.80, a current ratio of 9.79 and a debt-to-equity ratio of 0.07.

SSR Mining (TSE:SSRM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported C$0.94 earnings per share (EPS) for the quarter. SSR Mining had a net margin of 12.39% and a return on equity of 6.95%. The company had revenue of C$630.54 million during the quarter. As a group, analysts predict that SSR Mining Inc. will post 0.81 earnings per share for the current year.

SSR Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, September 11th were issued a $0.03 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%.

SSR Mining Company Profile

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.

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