Are You Looking for a Top Momentum Pick? Why SSR Mining (SSRM) is a Great Choice

Zacks Equity Research highlights SSR Mining (SSRM) as a compelling momentum pick, citing its 'A' Momentum Style Score and a Zacks Rank #2 (Buy). SSRM has outperformed both its industry and the S&P 500, with shares up 7.26% in the past week and 113.81% over the last year, driven by positive earnings estimate revisions, increasing the full year consensus from $0.95 to $1.09 in the past 60 days.

Analysis

SSR Mining (SSRM) is highlighted as a compelling momentum investment, evidenced by its Zacks Momentum Style Score of A and a Zacks Rank of #2 (Buy). The company's stock has exhibited robust outperformance, with shares appreciating 7.26% over the past week, outpacing the Zacks Mining - Miscellaneous industry's 3.66% gain. This trend is consistent over longer periods, as SSRM's monthly price change of 9.25% significantly exceeds the industry's 1.69%. Over the past quarter, shares have risen 17.42%, and an impressive 113.81% over the last year, substantially outperforming the S&P 500's 1.35% and 13.07% respective gains. The stock's activity is supported by an average 20-day trading volume of 2,125,763 shares. Earnings outlook also contributes to the positive assessment; the consensus earnings estimate for the current full year increased from $0.95 to $1.09 in the past 60 days, driven by recent revisions (one upward, three downward). More notably, for the next fiscal year, four earnings estimates have been revised upwards with no downward revisions, signaling strengthening analyst confidence. According to Zacks' methodology, stocks with a #1 or #2 Rank and Style Scores of A or B have historically outperformed the market in the subsequent month.

Key Decisions for Investors

• Given SSR Mining's Zacks Rank #2 (Buy) and Momentum Style Score of A, investors utilizing momentum strategies should consider SSRM due to its demonstrated strong price performance, including a 113.81% increase over the past year, and its potential for near-term outperformance based on the Zacks model.
• Investors should monitor the trend in earnings estimate revisions, especially for the next fiscal year where all recent revisions have been positive, as continued upward adjustments are crucial for maintaining the stock's favorable Zacks Rank and momentum characteristics.
• Consider SSRM's significant outperformance relative to its industry peers and the broader market, alongside its healthy average trading volume, as indicators of strong current investor interest and market conviction.