Is SSR MINING INC (NASDAQ:SSRM) a Minervini-style stock?

In this article we will dive into SSR MINING INC (NASDAQ:SSRM) as a possible candidate for growth investing. Investors should always do their own research, but we noticed SSR MINING INC showing up in our Minervini growth screen, which makes it worth to investigate a bit more.

SSRM passes the Minervini Trend Template check!

The Minervini Trend Template is a set of technical criteria designed to identify stocks in strong uptrends. We can check all the boxes for SSRM:

• ✔ Relative Strength is above 70.
• ✔ Current price is within 25% of it's 52-week high.
• ✔ Current price is at least 30% above it's 52-week low.
• ✔ The current price is above the 50-, 150- and 200-day SMA price line.
• ✔ The SMA(200) is trending upwards.
• ✔ The SMA(150) is above the SMA(200)
• ✔ The SMA(50) is above the SMA(150) and the SMA(200)

Understanding SSRM's High Growth Momentum Score

ChartMill assigns a proprietary High Growth Momentum Rating (HGM) to each stock. The score is computed by evaluating various growth and profitability aspects aspects, like EPS and revenue growth, accelleration, surprises and revisions. SSRM was assigned a score of 4 for growth:

Explosive Earnings Growth

• SSRM has demonstrated consistent growth in its earnings per share (EPS) from one quarter to another (Q2Q), with a 164.0% increase. This indicates improving financial performance and the company's effective management of its operations.
• The earnings per share (EPS) growth of SSRM is accelerating: the current Q2Q growth of 164.0% is above the previous quarter Q2Q growth of -83.05%. Earnings momentum and acceleration are key for high growth systems.
• Sales growth accelerated for 3 quarters in a row.
• With consistent quarter-to-quarter (Q2Q) revenue growth of 37.52%, SSRM exemplifies its ability to generate increased sales and revenue streams. This growth signifies the company's strong business performance and its potential for continued growth.
• The sales growth of SSRM is accelerating: the current Q2Q growth of 37.52% is above the previous quarter Q2Q growth of -24.12%. Sales momentum and acceleration are key for high growth systems.
• Sales acceleration happened 3 quarters in a row.
• The average next Quarter EPS Estimate by analysts was adjusted by 5.0K%, reflecting the evolving market expectations for the company's EPS growth.

Profitability & Financial Strength

• A Debt/Equity ratio of 0.11 suggests that SSRM is managing its debt levels responsibly.

Institutional Confidence & Market Strength

• The ownership composition of SSRM reflects a balanced investor ecosystem, with institutional shareholders owning 71.96%. This indicates a broader market participation and potential for increased trading liquidity.
• SSRM has exhibited strong Relative Strength(RS) in recent periods, with a current 97.62 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position.

Why is SSRM a setup?

ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. SSRM currently holds a 3 as its setup rating, suggesting a particular level of consolidation in the stock.

Although SSRM has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

Our latest full technical report of SSRM contains the most current technical analsysis.

Final Thoughts

More ideas for high growth momentum stocks can be found on ChartMill in our High Growth Momentum + Trend Template screen.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.