SSR Mining Inc. (SSRM:NSD) saw a significant drop in short interest during the month of February. The total number of short interest shares was 6,560,000, a decline of 11.9% from the February 13th total of 7,450,000 shares.
The days-to-cover ratio based on an average daily volume of 1,480,000 shares is currently 4.4 days. Short sales represent approximately 3.2% of the company’s shares.
SSR Mining Stock Analysis:
SSR Mining stock opened at $12.86 on the NASDAQ stock market on Monday. It has a 1-year low of $12.78 and a 1-year high of $24.58. The company has a market capitalization of $2.66 billion, a P/E ratio of 14.45, and a beta of 0.86. Its 50-day simple moving average is $15.53, and its 200-day simple moving average is $14.83.
SSR Mining Stock Dividend:
SSR Mining recently announced its quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Friday, March 3rd will receive a $0.07 dividend. The ex-dividend date is Thursday, March 2nd. The annualized dividend of $0.28 represents a yield of 2.18%, and the payout ratio is 31.46%.
SSR Mining Stock-Analyst Ratings:
Several analysts commented on SSR stock shares. TD Securities reduced its price target on SSR Mining shares from C$36.00 to C$33.00, while Scotiabank decreased its price objective from C$30.00 to C$29.50.
BMO Capital Markets also lowered its price objective on the stock from $23.00 to $19.00 and rated the stock as “outperform,” while National Bank Financial reduced its price target on SSR Mining shares from C$26.00 to C$23.00. According to data from Stock Target Advisor, SSR Mining stock has an average rating of “Strong Buy” and an average target price of $24.22.
In terms of insider transactions, Michael John Sparks sold 2,323 shares of SSR Mining stock on March 8th at an average price of $13.31, for a total transaction value of $30,919.13.
The CEO, Rodney Antal, sold 15,777 shares of SSR Mining stock on January 4th at an average price of $16.61, for a total transaction value of $262,055.97.
In the last three months, insiders have sold a total of 25,927 shares of company stock worth $410,052. Institutional investors such as Penn Capital Management Company LLC, Prudential Financial Inc., and Franklin Resources Inc. have also recently modified their holdings in SSRM.
SSR Mining Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas.
The company explores gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan province, Turkey; the Marigold mine located in Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy province, Argentina.
The company was formerly known as Silver Standard Resources Inc. and changed its name to SSR Mining Inc. in August 2017. SSR Mining Inc. was incorporated in 1946 and is based in Denver, Colorado.