Why SSR Mining Stock Jumped Nearly 11% Today
After rising by as much as 10.9% on Thursday, shares of gold and silver miner SSR Mining (NASDAQ: SSRM) closed the trading day up by a still-impressive 9.2%. The big driver was the company's third-quarter earnings release.
There were a lot of moving parts for SSR in the third quarter. For starters, it completed its merger with Alacer Gold, which management noted was consummated at no premium. Thanks to this transaction, the miner has increased its full-year production guidance and stated that it's on pace to meet its new target range of 680,000 to 760,000 gold equivalent ounces. Meanwhile, the board of directors announced plans to start paying a $0.05 per share quarterly dividend in early 2021, and held out the potential for special dividends based partially on the price of gold. All very positive items, and probably enough to drive the stock higher on their own.
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Source Fool.com
