SSR Mining, the Basic Materials sector company, was revisited by a Wall Street analyst on November 4. Analyst Kevin O’Halloran from BMO Capital maintained a Hold rating on the stock and has a $25.00 price target.
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Kevin O’Halloran has given his Hold rating due to a combination of factors surrounding SSR Mining’s recent performance and future outlook. The company’s Q3 production and earnings per share were largely in line with expectations, with production costs slightly increasing. This aligns with the company’s guidance, but the production is expected to be at the lower end of the annual guidance range, indicating some challenges in meeting higher targets.
Additionally, while SSR Mining maintains a strong balance sheet and liquidity position, there are uncertainties related to future operations, particularly at the Çöpler site. The valuation of the company is expected to remain somewhat discounted compared to its peers until there is more clarity on these operational aspects. These factors collectively contribute to the Hold rating, suggesting that while the company is stable, there are no immediate catalysts for significant stock price appreciation.
According to TipRanks, O’Halloran is a top 25 analyst with an average return of 58.7% and a 90.08% success rate. O’Halloran covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Fortuna Mining Corp, and Aya Gold & Silver.
In another report released yesterday, CIBC also maintained a Hold rating on the stock with a $28.50 price target.