Last Updated: 17 Sep 2024
Executive Summary
SSR Mining Inc. (SSRM) is a precious metals mining company with operations in Turkey and the Americas. The company has a market capitalization of $1.19 billion and is currently trading at $5.89 per share. SSRM has been facing challenges in recent quarters, with revenue and earnings declining year-over-year. However, the company's fundamentals remain strong, and analysts are optimistic about its long-term prospects.
Company Overview
SSR Mining Inc. was founded in 2004 and is headquartered in Vancouver, Canada. The company's primary focus is on the acquisition, exploration, development, and operation of precious metal resource properties. SSRM has a portfolio of seven operating mines, including the Seabee Gold Operation in Canada, the Marigold Gold Mine in Nevada, and the Puna Operations in Argentina. The company also has a number of exploration and development projects in various stages of progress.
Fundamental Analysis
SSRM's financial performance has been mixed in recent quarters. Revenue declined by 0.386% year-over-year to $1.23 billion in the most recent quarter. Earnings per share also declined, from -$1.94 to -$2.36. However, the company's gross profit margin improved from -0.328% to -0.392%.
SSRM's balance sheet is strong, with $1.1 billion in cash and equivalents and $1.2 billion in total debt. The company's debt-to-equity ratio is 0.58, which is below the industry average.
Technical Analysis
SSRM's stock price has been trading in a range between $3.76 and $15.06 over the past 52 weeks. The stock is currently trading near the bottom of this range. The 50-day moving average is $5.14, and the 200-day moving average is $6.38. The relative strength index (RSI) is 35.4, which indicates that the stock is oversold.
Short Term Outlook
SSR Mining's stock price is likely to remain under pressure in the short term. The company is facing challenges from declining revenue and earnings, and the technical analysis suggests that the stock is oversold. However, the company's fundamentals remain strong, and the stock could rebound if the company can improve its financial performance.
Long Term Outlook
Analysts are optimistic about SSR Mining's long-term prospects. The company has a strong portfolio of assets, and it is well-positioned to benefit from rising demand for precious metals. The company's management team is also experienced and capable.
Analyst Recommendations
The consensus analyst rating on SSR Mining is "Buy." Two analysts have a "Buy" rating, and three analysts have a "Hold" rating. The average analyst target price is $5.68.
