Why SSR Mining Stock Just Dropped

SSR Mining (NASDAQ: SSRM) banal tumbled 9.5% done 11:35 a.m. ET Friday, conscionable 1 time aft hitting its highest stock terms successful 15 years -- $28 per share.

These 2 things whitethorn beryllium connected.

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The terms of golden has been connected a teardrop this year, leaping to an all-time precocious of its ain this week, racing past the $5,000 people connected Monday, and climbing arsenic precocious arsenic $5,615 yesterday. Gold prices slipped little this morning, however. While inactive hanging connected supra $5,000 astatine $5,033, they're down 6% from their peak.

SSR Mining mines golden (as good arsenic copper, silver, lead, and zinc). It makes consciousness that arsenic golden gets much valuable, truthful excessively would SSR stock. Conversely, erstwhile golden prices spell down... truthful bash the banal prices of golden mining stocks similar SSR.

Is it clip for investors to panic, though? Perhaps not.

Just this morning, expert Levi Spry astatine Swiss concern slope UBS raised his terms people connected SSR Mining banal by much than 11% to $38.50 per stock and reiterated his bargain rating.

I 2nd that emotion. Despite much than tripling successful terms implicit the past year, SSR banal inactive costs conscionable 26 times earnings. What's more, astir analysts expect the institution to much than double its net every twelvemonth for the adjacent five years, giving the banal a PEG ratio of conscionable 0.22.

The banal looks a spot richer valued connected currency flow, costing adjacent to 14 times trailing currency travel today. But it costs lone 5.6 times next year's forecast currency flow. With this imaginable successful mind, SSR whitethorn inactive person a spot much country to run.

Before you bargain banal successful SSR Mining, see this:

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