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« Gold Prices Taking A Breather Or Something Worse? | Main | Gold And The mining Stocks Come Alive »
Tuesday
Feb052019

SSR Mining Inc Continues To Mature 

 Preamble

A few years ago, the formally named Silver Standard changed their name to SSR Mining (NASDAQ: SSRM), to better reflect their involvement in both silver and gold mining activities. The previous name suggested that it was predominantly a silver producer, however since acquiring the Marigold gold mine in Nevada the newly named SSR Mining Inc is now largely a gold producer.

On 4th July 2017 we posted an article entitled; “Silver Standard Is Now In The Bargain Basement: Buy” and since then the stock has had a torrid time along with most of the precious metals mining operators but of late has showed considerable strength. Fast forward nineteen months and the picture has improved dramatically for SSRM as it could have been acquired for $9.24 back then and today the cost would be in the order of $13.88, registering a gain of 50.2%

At the time of acquisition gold was trading at around $1210/Oz and today it stands at $1313/Oz. However not all in this sector have been so fortunate as the Gold Bugs Index, the HUI clearly demonstrates. The HUI stood at 180 back in July 2017 and today it stands at 168 registering a loss of 6.7% over the same period that SSR Mining Inc made very good progress.

A Quick Look At The Chart Of SSR Mining

The chart below shows the acceleration of the stock price over the last six months and the steepness of the ascent suggests that it may have ran too far too fast. The technical indicators such as the RSI which stands at 74.78 is firmly in the oversold zone, likewise with the MACD and the STO both of which look set to rollover and head south.


Financials

In July 2017 we wrote:

Silver Standard trades on the ......


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