On June 26, 2026, Scotiabank increased its price target for SSR Mining Inc (NASDAQ: SSRM) to C$58.00 from C$55.00. The bank maintains an "Outperform" rating on the stock, which was trading at $29.59 at the time. SSRM is a mining company that recently shifted its focus to assets in the Americas.
This positive outlook follows a major strategic change for SSRM. The company completed the sale of its 80% stake in the Çöpler mine in Turkey for approximately $1.49 billion in cash. This move significantly lowers the company's exposure to geopolitical risks in the region.
The sale has greatly improved SSRM's financial position. As highlighted by Seeking Alpha, the transaction unlocked over $2 billion in net cash. This strong balance sheet is a key reason for a recent "Strong Buy" rating upgrade, suggesting confidence in the company's financial health and future strategy.
SSRM is using this new capital to reward its investors. The Board of Directors approved an additional $500 million for share repurchases. A share repurchase, or buyback, is when a company buys its own stock from the market, which can increase the value of the remaining shares for investors.
Analysts also point to the company's current valuation. Seeking Alpha reports an estimated intrinsic value of $43.12 per share for SSRM. This is notably higher than its market price of around $28.74 per share at the time of the report, suggesting the stock may be undervalued.
