Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SSR Mining Inc. shares valued at $129,840 were purchased by Anglin Arthur Michael on May 12. At $16.23 per share, Anglin Arthur Michael acquired 8,000 shares. The insider’s holdings grew to 52,306 shares worth approximately $0.77 million following the completion of this transaction.
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Also, Farid Fady Adel Edward sold 2,955 shares, netting a total of over 39,331 in proceeds. Following the sale of shares at $13.31 each, the insider now holds 115,466 shares.
Before that, White Alison Lynn had sold 2,439 shares from its account. In a trade valued at $32,463, the Chief Financial Officer traded SSR Mining Inc. shares for $13.31 each. Upon closing the transaction, the insider’s holdings decreased to 2,439 shares, worth approximately $0.97 million.
Analyzing SSRM Stock Performance
On Thursday, SSR Mining Inc. [NASDAQ: SSRM] plunged -3.16% to $14.73. The stock’s lowest price that day was $14.71, but it reached a high of $15.09 in the same session. During the last five days, there has been a drop of approximately -6.48%. Over the course of the year, SSR Mining Inc. shares have dropped approximately -6.00%. Shares of the company reached a 52-week high of $17.74 on 01/26/23 and a 52-week low of $12.78 on 03/10/23. A 50-day SMA is recorded $15.38, while a 200-day SMA reached $14.95. Nevertheless, trading volume fell to 1.29 million shares from 1.13 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 14.60, which, if violated, would cause prices to drop to 14.46. In the upper region, resistance lies at 14.98. The next price resistance is at 15.22. RSI (Relative Strength Index) is 37.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.92, which suggests the price will decrease in the coming days. Percent R is at 99.33%, indicating bearish price movement. Stochastics %K at buying 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 May 14, 2023 dropping by -0.26 million shares to 7.15 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 7.41 million shares. A decline of -3.64% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.15 of the overall float, the days-to-cover ratio (short ratio) decline to 4.15.
Which companies own the most shares of SSR Mining Inc. (SSRM)?
According to Van Eck Associates Corp. filings, the company currently owns 23,115,902 shares, which is about 11.18% of the total SSRM shares outstanding. The investor’s shares have appreciated by 1,992,473 from its previous 13-F filing of 21123429.0 shares. With the completion of the buy transaction, BlackRock Investment Management’s stake is now worth $181,846,744. Mackenzie Financial Corp. reduced a -9.64% interest valued at $81.73 million while The Vanguard Group, Inc. sold a -64,691 stake. A total of -84,804 shares of SSR Mining Inc. were sold by BlackRock Fund Advisors during the quarter, and -28,500 were sold by Franklin Advisers, Inc. In its current portfolio, Global X Management Co. LLC holds 3,581,404 shares valued at $51.29 million.
In terms of SSR Mining Inc. share price expectations, FactSet research, analysts set an average price target of $21.65 in the next 12 months, up nearly 42.01% from the previous closing price of $15.21. Analysts anticipate SSR Mining Inc. stock to reach $26.95 by 2023, with the lowest price target being $17.88. In spite of this, 10 analysts ranked SSR Mining Inc. stock as a Buy at the end of 2023.