What’s Next for SSR Mining Inc. (SSRM) After Forming Multiple Bottom Chart Pattern?

May 27, 2018 - By reb123z

The stock of SSR Mining Inc. (SSRM) shows a multiple bottoms pattern with $10.08 target or 5.00 % below today’s $10.61 share price. The 9 months chart pattern indicates high risk for the $1.27 billion company. It was reported on May, 27 by Finviz.com. If the $10.08 price target is reached, the company will be worth $63.55 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.75% or $0.08 during the last trading session, reaching $10.61. About 533,906 shares traded. SSR Mining Inc. (NASDAQ:SSRM) has declined 11.53% since May 27, 2017 and is downtrending. It has underperformed by 23.08% the S&P500.

Analysts await SSR Mining Inc. (NASDAQ:SSRM) to report earnings on August, 8. They expect $0.01 earnings per share, down 90.91 % or $0.10 from last year’s $0.11 per share. SSRM’s profit will be $1.20 million for 265.25 P/E if the $0.01 EPS becomes a reality. After $0.05 actual earnings per share reported by SSR Mining Inc. for the previous quarter, Wall Street now forecasts -80.00 % negative EPS growth.

More recent SSR Mining Inc. (NASDAQ:SSRM) news were published by: Prnewswire.com which released: “SSR Mining Appoints Kevin O’Kane as Chief Operating Officer” on May 03, 2018. Also Investingnews.com published the news titled: “Indexes Teeter as Commodities Simmer” on May 04, 2018. Seekingalpha.com‘s news article titled: “SSR Mining’s (SSRM) CEO Paul Benson on Q1 2018 Results – Earnings Call Transcript” with publication date: May 11, 2018 was also an interesting one.

SSR Mining Inc. engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company has market cap of $1.27 billion. The firm primarily explores for gold and silver deposits. It has a 24.11 P/E ratio. The Company’s projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Pirquitas mine located in the province of Jujuy, northern Argentina; and the Seabee Gold Operation located near Laonil Lake, Saskatchewan.

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