Here's What Sent SSR Mining Inc. Rocketing Higher by as Much as 13%
Shares of SSR Mining (NASDAQ: SSRM) (formerly Silver Standard Resources), a gold and silver mining company with properties located in North and South America, surged by as much as 13% during Thursday's trading session after the company released better-than-expected second-quarter results, and improved its full-year outlook.
For the quarter, SSR Mining wound up recording $117 million in sales, down slightly from the $118.8 million it reported in the year-ago quarter. The reason for the drop can be attributed to a drop in silver sales tied to the end of mining operations at the San Miguel mine and the sell-off of its remaining stockpile. On the other hand, higher gold sales helped to offset the drop in silver sales, with gold production from the Seabee mine topping expectations, with 20,690 ounces of gold produced and 17,909 ounces sold.
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Source: Fool.com
