On July 9, SSR Mining fell 8.09% in regular trading, trading at $27.69/share, with turnover of $50.39 million. The decline came amid broad-based weakness across the gold mining sector.
The gold sector experienced significant selling pressure during the session, with major peers all posting notable losses: Newmont Mining down 3.1%, Agnico Eagle Mines down 5.03%, Barrick Mining Corporation down 4.34%, Coeur Mining down 6.5%, and Pan American Silver down 4.62%. SSR Mining's decline outpaced the broader group. Additionally, Bank of America on July 8 slightly trimmed its price target on SSR Mining to $40 from $41 while maintaining a Buy rating, with the consensus mean target standing at $42.98.
SSR Mining recently completed the $1.49 billion sale of its 80% Copler mine stake, approved a $500 million share repurchase program, and reinstated its quarterly dividend. The company reported Q1 adjusted EPS of $1.15, beating estimates by over 33%. Its next earnings release is scheduled for August 4.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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