Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SSR Mining Inc shares valued at $9,384 were sold by Ebbett John on Mar 07 ’24. At $4.52 per share, Ebbett John sold 2,076 shares. The insider’s holdings dropped to 30,205 shares worth approximately $0.16 million following the completion of this transaction.
Also, Anglin Arthur Michael purchased 8,000 shares, netting a total of over 129,840 in proceeds. Following the buying of shares at $16.23 each, the insider now holds 52,306 shares.
As published in a research note from UBS on February 22, 2024, SSR Mining Inc [SSRM] has been rated down from a Buy to a Neutral and the price target has been revised to $5 from $17. Analysts at RBC Capital Mkts downgraded the stock from ‘”a Sector perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid February. As of February 15, 2024, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for SSRM. Earlier on February 14, 2024, TD Securities downgraded its rating. Their new recommendation was “a Hold” for SSRM stock which previously was a “a Buy”.
Analyzing SSRM Stock Performance
During the last five days, there has been a surge of approximately 9.58%. Over the course of the year, SSR Mining Inc shares have dropped approximately -51.12%. Shares of the company reached a 52-week high of $10.81 on 01/02/24 and a 52-week low of $3.76 on 02/13/24. A 50-day SMA is recorded $5.46, while a 200-day SMA reached $11.06. Nevertheless, trading volume fell to 5.12 million shares from 3.54 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 4.97, which, if violated, would cause prices to drop to 4.68. In the upper region, resistance lies at 5.42. The next price resistance is at 5.57. RSI (Relative Strength Index) is 62.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.51, which suggests the price will decrease in the coming days. Percent R is at 2.62%, indicating bullish price movement. Stochastics %K at selling 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 Mar 28, 2024 dropping by -0.45 million shares to 4.01 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.46 million shares. A decline of -11.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.9 of the overall float, the days-to-cover ratio (short ratio) decline to 0.9.
