SSRM Stock Surges 22% With A 5-day Winning Spree On TD Cowen Upgrade
SSR Mining (SSRM) – a precious metals mining and exploration company – hit 5-day winning streak, with cumulative gains over this period amounting to a 22%. The company market cap has surged by about $1.0 Bil over the last 5 days, and currently stands at $5.7 Bil.
The stock has YTD (year-to-date) return of 28.5% compared to 1.9% for S&P 500. This calls for a re-evaluation of the stock’s valuation to find out whether this is an opportunity, or a trap.
What Triggered The Rally?
[1] TD Cowen Upgrade to Buy
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- Price target raised to $31.18
- Cited rising gold prices and improved free cash flow
- Impact: Stock surged 10% on the day of the upgrade, Increased investor confidence
[2] Bullish Precious Metals Sentiment
- Gold surpassed $4,600 per ounce
- Analysts forecast further upside for precious metals in 2026
- Impact: Sector-wide buying pressure, Gold and silver prices at record highs
Opportunity or Trap?
Below is our take on valuation.
There is not much to fear in SSRM stock given its overall Strong operating performance and financial condition. This is aligned with the stock’s High valuation because of which we think it is Fairly Priced (For details, see Buy or Sell SSRM).
But here is the real interesting point.
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Returns vs S&P 500
The following table summarizes the return for SSRM stock vs. the S&P 500 index over different periods, including the current streak:
| Return Period | SSRM | S&P 500 |
|---|---|---|
| 1D | 0.9% | -0.0% |
| 5D (Current Streak) | 21.7% | 1.5% |
| 1M (21D) | 21.6% | 0.7% |
| 3M (63D) | 27.0% | 1.5% |
| YTD 2026 | 28.5% | 1.9% |
| 2025 | 214.9% | 16.4% |
| 2024 | -35.3% | 23.3% |
| 2023 | -29.9% | 24.2% |
However, big gains can follow sharp reversals – but how has SSRM behaved after prior drops? See SSRM Dip Buyer Analysis to learn more.
Gains and Losses Streaks: S&P 500 Constituents
There are currently 55 S&P constituents with 3 days or more of consecutive gains and 80 constituents with 3 days or more of consecutive losses.
| Consecutive Days | # of Gainers | # of Losers |
|---|---|---|
| 3D | 36 | 38 |
| 4D | 7 | 24 |
| 5D | 4 | 15 |
| 6D | 6 | 0 |
| 7D or more | 2 | 3 |
| Total >=3 D | 55 | 80 |
Key Financials for SSR Mining (SSRM)
Last 2 Fiscal Years:
| Metric | FY2023 | FY2024 |
|---|---|---|
| Revenues | $1.4 Bil | $995.6 Mil |
| Operating Income | $281.9 Mil | $-179.1 Mil |
| Net Income | $-98.0 Mil | $-261.3 Mil |
Last 2 Fiscal Quarters:
| Metric | 2025 FQ2 | 2025 FQ3 |
|---|---|---|
| Revenues | $405.5 Mil | $385.8 Mil |
| Operating Income | $74.2 Mil | $95.7 Mil |
| Net Income | $90.1 Mil | $65.4 Mil |
While SSRM stock looks attractive given its winning streak, investing in a single stock without detailed, thorough analysis can be risky. The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.