UBS has recently reduced SSR Mining Inc (SSRM) stock to Neutral rating, as announced on February 22, 2024, according to Finviz. Earlier, on February 20, 2024, RBC Capital Mkts had reduced the stock from a Sector Perform to Underperform, setting a price target of $3 for SSRM stock. RBC Capital Mkts also reduced Sector Perform rating with a price target of $6. Additionally, TD Securities reduced Hold rating on February 14, 2024. Scotiabank analysts, in their report published on February 14, 2024, also reduced Sector Perform rating for SSR Mining Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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SSR Mining Inc (SSRM) Stock Trading Recap
On Monday, SSR Mining Inc (SSRM) stock saw a decline, ending the day at $5.52 which represents a decrease of $-0.18 or -3.16% from the prior close of $5.7. The stock opened at $5.43 and touched a low of $5.42 during the day, reaching a high of $5.58. The volume of shares traded was 2.79 million exceeding the average volume of 2.04 million.
SSRM Stock Performance and Moving Averages
In recent trading, SSR Mining Inc (SSRM) stock price has shown some volatility, fluctuating -9.36% over the last five trades and -5.64% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 6.56%, and it has gained 10.40% in the previous three months. Currently, SSRM is trading at -9.33%, -4.96%, and 2.19% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, SSRM, a Basic Materials sector stock, is trading -54.68% below its 52-week high but remains 46.81% above its 52-week low. The Average True Range (ATR) (14 days) of 0.33 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
SSR Mining Inc’s Profitability and Valuation Ratios
SSR Mining Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -17.66% and a profit margin of -44.13%, with a gross margin of 6.56%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, SSR Mining Inc’s market capitalization stands at $1.68 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The forward P/E ratio, which uses projected earnings for the next financial year, is 9.7. Additionally, the Price-to-Sales Ratio is 1.53, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.36, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 1.07% of SSR Mining Inc (SSRM)’s shares, while financial institutions hold 70.05%.
