SSR Mining (TSE:SSRM) Stock Price Down 10.8% – Here’s Why

Shares of SSR Mining Inc. (TSE:SSRM) were down 10.8% on Wednesday . The company traded as low as C$25.92 and last traded at C$27.25. Approximately 152,530 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 464,114 shares. The stock had previously closed at C$30.56.

Wall Street Analyst Weigh In

Several brokerages have commented on SSRM. Scotiabank raised SSR Mining from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$19.00 to C$39.00 in a research report on Thursday, October 23rd. TD Securities lifted their price objective on SSR Mining from C$20.00 to C$24.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Finally, National Bankshares boosted their price objective on SSR Mining from C$20.00 to C$24.75 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$29.25.

SSR Mining Trading Down 10.0%

The company has a 50 day moving average of C$31.25 and a 200 day moving average of C$22.28. The company has a current ratio of 3.91, a quick ratio of 3.80 and a debt-to-equity ratio of 11.04. The firm has a market cap of C$5.57 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 5.64 and a beta of 0.61.

About SSR Mining

SSR Mining Inc is a minerals company focused on mining precious metals in the Americas. More than half of Silver Standard’s revenue is attributable to the production of gold, with a significant portion derived from silver production. The company owns and operates the Marigold mine in Nevada, United States; the Seabee Gold Operation in Saskatchewan, Canada; and the Pirquitas mine in Argentina.