Sliding lower from their closing prices on Monday and Tuesday, shares of SSR Mining (SSRM -7.25%) have lost a bit of luster in investors' eyes this week. And the decline looks likely to continue today, with a firm providing a less bullish outlook on the mining stock.
As of 1:53 p.m. ET, SSR Mining shares are down 8.1%.
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One firm sees less room for this stock to run
Maintaining a buy rating, UBS reduced its price target on SSR Mining stock to $39 from $41. Based on shares closing at $33.10 yesterday, the new price target implies 17.8% upside.
NASDAQ: SSRM
Key Data Points
SSR Mining operates a diversified portfolio of precious metals assets, which include both gold and silver production. In 2026, SSR Mining projects gold production of 355,000 to 420,000 ounces and silver production of 6.25 million ounces to 7 million ounces.
Is now the time to buy SSR Mining stock on the dip?
Savvy investors know well that market overreactions can often provide great buying opportunities. The drop in SSR Mining stock today, however, doesn't necessarily mean that investors should rush to click the buy button. SSR Mining shares are trading at a premium now, priced at 8.5 times operating cash flow, a premium to its five-year average cash flow multiple of 5.9. Fortunately, there are plenty of other precious metals stocks that look especially lustrous right now.
