On Thursday, SSR Mining cleared an important technical benchmark, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an improvement to 93, an increase from 83 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against all other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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Is SSR Mining Stock A Buy?
The IBD Sector Leaders stock is forming a cup without handle with a 20.16 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.
SSR Mining stock's relative strength line is in new high territory, a promising indicator ahead of a potential breakout. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While sales growth fell last quarter from 43% to 10%, earnings-per-share grew -6%, up from -22% in the previous report.
SSR Mining stock holds the No. 7 rank among its peers in the Mining-Gold/Silver/Gems industry group. Franco Nevada, Sibanye Gold ADR and Anglogold Ashanti are among the top 5 highly rated stocks within the group. For more industry stock news, check out "Commodity Market And Commodity Trading: Gold, Silver, Crude Oil, Natural Gas."
