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SSRM Stock: More Upside For SSR Mining Inc (NASDAQ: SSRM)?

In the latest trading session, 12.86 million SSR Mining Inc (NASDAQ:SSRM) shares changed hands as the company’s beta touched 0.95. With the company’s most recent per share price at $5.18 changed hands at -$4.54 or -46.71% at last look, the market valuation stands at $1.06B. SSRM’s current price is a discount, trading about -242.08% off its 52-week high of $17.72. The share price had its 52-week low at $9.25, which suggests the last value was -78.57% down since then. When we look at SSR Mining Inc’s average trading volume, we note the 10-day average is 1.99 million shares, with the 3-month average coming to 29.47.

SSR Mining Inc (NASDAQ:SSRM) trade information

Instantly SSRM was in red as seen in intraday trades today. With action -45.19%, the performance over the past five days has been red. The drop to weekly highs of 9.82 subtracted -46.71% to the stock’s daily price. The company’s shares are showing year-to-date downside of -51.86%, with the 5-day performance at -45.19% in the red. However, in the 30-day time frame, SSR Mining Inc (NASDAQ:SSRM) is -49.85% down. Looking at the short shares, we see there were 4.47 million shares sold at short interest cover period of 1.94 days.

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SSR Mining Inc (SSRM) estimates and forecasts

Data shows that the SSR Mining Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -65.14% over the past 6 months, a 62.69% in annual growth rate that is considerably higher than the industry average of 11.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for SSR Mining Inc will rise 166.70%. Year-over-year growth is forecast to reach 22.40% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $434.6 million. 1 analysts are of the opinion that SSR Mining Inc’s revenue for the quarter ending Mar 2024 will be $407.11 million. The company’s revenue for the corresponding quarters a year ago was $306.38 million and $363.89 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 41.90%. The estimates for the next quarter sales put growth at 11.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.06%. The 2024 estimates are for SSR Mining Inc earnings to increase by 51.87%.

SSRM Dividends

SSR Mining Inc is expected to release its next quarterly earnings report on February 21. The 5.41% annual yield figure for the share gives it an annual dividend of 0.28. It is important to note, however, that the 5.41% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

SSR Mining Inc (NASDAQ:SSRM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.60% of SSR Mining Inc shares while 71.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 72.17%. There are 71.74% institutions holding the SSR Mining Inc stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 10.30% of the shares, roughly 21.0 million SSRM shares worth $297.74 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 10.20% or 20.8 million shares worth $294.92 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 10.85 million shares estimated at $144.14 million under it, the former controlled 5.32% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.63% of the shares, roughly 7.41 million shares worth around $98.48 million.

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