Why SSR Mining Stock Popped Today

After 4 consecutive days of gains, SSR Mining (NASDAQ: SSRM) banal took a breather yesterday, falling astir 6% -- past perked close backmost up!

In greeting trading, 10:35 a.m. ET Friday, shares of the golden miner (which besides mines copper, silver, lead, and zinc) are up 6.2% -- close backmost to Wednesday's price.

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No enigma wherefore -- the terms of golden is rising. After hitting an all-time precocious of $5,419.80 per ounce connected Jan. 28, golden prices tumbled to astir $4,500 successful aboriginal February, according to information from TradingEconomics.com. Gold moved backmost supra the $5,000 threshold past week, slipped beneath it yesterday (which is wherefore SSR's banal terms fell), and is backmost supra $5,000 contiguous -- $5,001 per ounce, to beryllium precise.

The communicative connected metallic is similar. Silver prices peaked connected Jan. 28 astatine $116.58 per ounce. Silver prices fell to $66, past bounced backmost supra $80, lone to autumn astir 10% yesterday. At past report, metallic is up astir 0.9% today, passing $78 and heading toward $79.

It makes consciousness that with golden and metallic up today, SSR Mining banal is up, too.

Will SSR Mining banal proceed to rise? That depends mostly connected however overmuch it's been capable to gain from the rising prices of golden and silver. We'll find that retired Tuesday, Feb. 17, erstwhile SSR reports Q4 earnings.

Analysts foretell SSR volition gain $0.57 per stock -- astir six times Q4 2024 nett -- with full-year net of $1.72. On SSR's $28 banal price, that works retired to a 16 price-to-earnings ratio connected a banal that -- analysts accidental -- volition much than treble net each twelvemonth for the adjacent 5 years.

Sounds similar a bargain to me.

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