SSR Mining Inc. (NASDAQ: SSRM) stock jumped 0.84% on Tuesday to $13.22 against a previous-day closing price of $13.11. With 1.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.2 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $13.52 whereas the lowest price it dropped to was $13.20. The 52-week range on SSRM shows that it touched its highest point at $24.58 and its lowest point at $12.86 during that stretch. It currently has a 1-year price target of $24.25. With its current market cap of 2.87 billion, SSRM has annualized dividend of $0.28 while the current yield stands at 2.12%. Beta for the stock currently stands at 0.93.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SSRM was down-trending over the past week, with a drop of -5.84%, but this was down by -6.57% over a month. Three-month performance dropped to -23.58% while six-month performance fell -37.64%. The stock lost -9.82% in the past year, while it has lost -25.31% so far this year. A look at the trailing 12-month EPS for SSRM yields 1.38 with Next year EPS estimates of 1.20. For the next quarter, that number is 0.15. This implies an EPS growth rate of 74.20% for this year and 18.36% for next year.
Float and Shares Shorts:
At present, 212.60 million SSRM shares are outstanding with a float of 207.45 million shares on hand for trading. On Aug 30, 2022, short shares totaled 7.86 million, which was 3.77% higher than short shares on Jul 28, 2022. In addition to Mr. Rodney P. Antal Accountancy, B.Bus, C.P.A., CPA as the firm’s Pres, CEO & Director, Ms. Alison White serves as its Exec. VP & CFO.
Through their ownership of 67.63% of SSRM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.77% of SSRM, in contrast to 58.17% held by mutual funds. Shares owned by individuals account for 0.62%. As the largest shareholder in SSRM with 10.45% of the stake, Van Eck Associates Corp. holds 21,809,715 shares worth 21,809,715. A second-largest stockholder of SSRM, BlackRock Investment Management, holds 6,180,579 shares, controlling over 2.96% of the firm’s shares. Mackenzie Financial Corp. is the third largest shareholder in SSRM, holding 5,858,969 shares or 2.81% stake. With a 5.49% stake in SSRM, the VanEck Gold Miners ETF is the largest stakeholder. A total of 11,452,087 shares are owned by the mutual fund manager. The BlackRock Global Funds – World Go, which owns about 4.51% of SSRM stock, is the second-largest Mutual Fund holder. It holds 9,408,789 shares valued at 126.92 million. VanEck Junior Gold Miners ETF holds 3.88% of the stake in SSRM, owning 8,085,398 shares worth 109.07 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, SSRM reported revenue of $319.58M and operating income of $70.09M. Over the past year, revenue came in at $1.41B while operating income stood at $397.44M. It generated $58.49M net income for the quarter, which came to $310.55M over the last twelve months. The EBITDA in the recently reported quarter was $125.18M and diluted EPS was $0.27. EBITDA for the full year was $633.25M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SSRM since 11 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SSRM analysts setting a high price target of $26.88 and a low target of $16.93, the average target price over the next 12 months is $22.44. Based on these targets, SSRM could surge 103.33% to reach the target high and rise by 28.06% to reach the target low. Reaching the average price target will result in a growth of 69.74% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SSRM will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $1.33 being high and $0.66 being low. For SSRM, this leads to a yearly average estimate of $0.99. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SSR Mining Inc. surprised analysts by $0.09 when it reported $0.30 EPS against a consensus estimate of $0.21. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is $0.27 and the low estimate is -$0.05. The average estimate for the next quarter is thus $0.09.
Dividends & Yield:
In terms of dividends, SSRM has a current ratio of $0.28, which is $0.28 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and SSRM currently yields $1.97. In the past year, SSRM’s dividend yield has been $1.97. Accordingly, SSRM has a current buyback yield of $3.33. This was $3.33 for the TTM.