Saturday, June 25, 2022

Insider Selling: Beckman Steward John, SSR Mining Inc. [SSRM] Chief Operating Officer divested 5,400 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SSR Mining Inc. shares valued at $103,086 were sold by Beckman Steward John on Jun 21. At $19.09 per share, Beckman Steward John sold 5,400 shares. The insider’s holdings dropped to 157,055 shares worth approximately $2.97 million following the completion of this transaction.

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Also, Sparks Michael John sold 4,470 shares, netting a total of over 89,400 in proceeds. Following the sale of shares at $20.00 each, the insider now holds 129,735 shares.

Before that, Farid Fady Adel Edward had sold 3,488 shares from its account. In a trade valued at $68,923, the Chief Corp Development Officer traded SSR Mining Inc. shares for $19.76 each. Upon closing the transaction, the insider’s holdings decreased to 3,488 shares, worth approximately $1.91 million.

As published in their initiating research note from UBS on June 01, 2022, SSR Mining Inc. [SSRM] has been a Buy and the price target has been revised to $22. This represents a 14.14% premium over Wednesday’s closing price. Analysts at National Bank Financial downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid March. Earlier on February 10, 2021, JP Morgan initiated its rating. Their recommendation was “an Overweight” for SSRM stock.

Analyzing SSRM’s Price Performance

On Wednesday, SSR Mining Inc. [NASDAQ: SSRM] plunged -0.26% to $18.89. The stock’s lowest price that day was $18.73, but it reached a high of $19.42 in the same session. During the last five days, there has been a surge of approximately 2.50%. Over the course of the year, SSR Mining Inc. shares have jumped approximately 6.72%. Shares of the company reached a 52-week high of $24.58 on 04/18/22 and a 52-week low of $15.72 on 01/28/22. A 50-day SMA is recorded $20.83, while a 200-day SMA reached $18.55. Nevertheless, trading volume fell to 3.48 million shares from 3.04 million shares the previous day.

Support And Resistance Levels for SSR Mining Inc. (SSRM)

According to the 24-hour chart, there is a support level at 18.61, which, if violated, would cause prices to drop to 18.32. In the upper region, resistance lies at 19.30. The next price resistance is at 19.70. RSI (Relative Strength Index) is 42.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.70, which suggests the price will decrease in the coming days. Percent R is at 71.84%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is SSR Mining Inc. subject to short interest?

Stocks of SSR Mining Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.19 million shares to 4.57 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 4.76 million shares. A decline of -4.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.52 of the overall float, the days-to-cover ratio (short ratio) decline to 2.52.

Which companies own the most shares of SSR Mining Inc. (SSRM)?

According to Van Eck Associates Corp. filings, the company currently owns 20,816,298 shares, which is about 9.79% of the total SSRM shares outstanding. The investor’s shares have plunged by -1,507,248 from its previous 13-F filing of 22323546.0 shares. With the completion of the sale, BlackRock Investment Management’s stake is now worth $148,078,070. Mackenzie Financial Corp. acquire a 16.13% interest valued at $118.46 million while The Vanguard Group, Inc. sold a -383,400 stake. A total of 257,424 shares of SSR Mining Inc. were sold by RBC Global Asset Management, Inc. during the quarter, and 77,100 were bought by Franklin Advisers, Inc. In its current portfolio, Global X Management Co. LLC holds 3,616,492 shares valued at $70.27 million.

In terms of SSR Mining Inc. share price expectations, FactSet research, analysts set an average price target of $27.30 in the next 12 months, up nearly 43.77% from the previous closing price of $18.94. Analysts anticipate SSR Mining Inc. stock to reach $32.00 by 2022, with the lowest price target being $22.00. In spite of this, 11 analysts ranked SSR Mining Inc. stock as a Buy at the end of 2022. On December 03, 2020, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $28.50.

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