Scotiabank Lifts SSR Mining Target to C$58 After $1.49B Çöpler Sale
SSRM•SSRM•SSRM•SSRM•Scotiabank raised its price target to C$58.00, maintaining an Outperform rating after SSRM sold its 80% Çöpler mine stake for $1.49 billion. Holding over $2 billion in net cash, an estimated intrinsic value of $43.12 per share and a $500 million buyback plan, the stock appears undervalued.
Scotiabank raised its SSR Mining price target from C$55.00 to C$58.00 and maintained an Outperform rating, signaling confidence in the company’s new strategic focus on the Americas.
SSRM sold its 80% interest in the Çöpler mine for $1.49 billion in cash, reducing geopolitical risk exposure and freeing up capital for redeployment.
The transaction boosted SSRM’s net cash position to over $2 billion, providing ample liquidity to fund growth initiatives and shareholder returns.
The board approved a $500 million share repurchase plan, while an estimated intrinsic value of $43.12 per share suggests the stock trades below its fair value.
