Right. So, SSR Mining (SSRM 9.56%). It dropped 9.5% this morning. Which, let’s be honest, is never a good sign. Especially when, just yesterday, it was doing so well – a giddy $28 a share. It feels a bit…precipitous, doesn’t it? Like a promising date who then reveals they collect porcelain dolls.
Units of SSRM Stock Lost Today: 9.5%. Number of Times I Refreshed the Chart: Approximately 78. Number of Internal Pep Talks: Uncountable.
Why the Sudden Dip?
It’s all about the gold, naturally. Gold has been having a moment, a proper moment. It hit an all-time high this week – over $5,000, then briefly flirting with $5,615 yesterday. A bit extravagant, really. But this morning? Down it came. Still above $5,000 ($5,033, to be precise), but a 6% drop from its peak. It’s like watching a particularly stylish friend have a bad hair day.
SSR Mining, as the name suggests, digs up gold (and other things, like copper, silver, lead, and zinc – a diverse portfolio, I suppose). So, naturally, when gold does well, SSR stock tends to follow. And when gold…doesn’t? Well, you can probably guess. It’s a simple equation, really. Except, of course, nothing is ever truly simple, is it?
Should You Panic Sell? (Deep Breath)
Right. The big question. Is it time to sell everything and invest in…I don’t know…canned goods? Possibly. But hold on. Apparently, Levi Spry at UBS (Swiss investment bank, very serious people) has actually raised his price target on SSR Mining, by a rather optimistic 11% to $38.50. And he still thinks it’s a ‘buy’. Which is…encouraging. I suppose.
I mean, it’s tripled in price over the last year, which sounds…a bit much. But, apparently, it’s only 26 times earnings. Which, in this market, is almost…reasonable. And analysts are predicting earnings will double every year for the next five years. Which sounds…optimistic. But if true, that gives it a PEG ratio of a mere 0.22. Which, if you understand what that means, is apparently very good. I had to Google it.
It’s a bit pricier when you look at cash flow – around 14 times trailing cash flow. But only 5.6 times next year’s forecast. Which, if you squint, suggests there might be a little more room to run. Though, let’s be honest, ‘room to run’ can disappear very quickly. It’s like thinking you have enough time to finish that book before the party starts.
Will become disciplined long-term investor: 0%. Number of times I’ve said that this week: 7. Number of times I’ve actually been a disciplined long-term investor: 0.
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2026-01-30 20:03