SSR Mining (TSE:SSRM) Stock Price Down 7.4% – Here’s Why

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SSRM. ATB Cormark Capital Markets raised their price target on SSR Mining from C$59.00 to C$64.00 and gave the company an “outperform” rating in a research report on Thursday, October 1st. TD set a C$52.00 price objective on shares of SSR Mining and gave the stock a “buy” rating in a research report on Thursday, October 1st. Six investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$51.00.

SSR Mining Stock Performance

The company has a current ratio of 9.79, a quick ratio of 3.80 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of C$8.86 billion, a PE ratio of 36.87, a PEG ratio of 5.64 and a beta of 1.59. The stock’s 50 day moving average price is C$49.14 and its two-hundred day moving average price is C$44.11.

SSR Mining (TSE:SSRM) last posted its earnings results on Tuesday, August 4th. The company reported C$0.94 earnings per share (EPS) for the quarter. The firm had revenue of C$630.54 million for the quarter. SSR Mining had a return on equity of 6.95% and a net margin of 12.39%. On average, equities analysts expect 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. Stockholders of record on Friday, September 11th were issued a dividend of $0.03 per share. 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%.

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.