BMO Capital analyst Kevin O’Halloran has maintained their neutral stance on SSRM stock, giving a Hold rating on November 5.
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Kevin O’Halloran has given his Hold rating due to a combination of factors related to SSR Mining’s recent developments and financial outlook. The company has released a new 12-year mine plan for the CC&V mine, which shows an increase in reserves but a decrease in grade, leading to lower production forecasts than previously expected. This lower production results in higher per-ounce costs, with the average all-in sustaining costs (AISC) projected to be higher than prior estimates.
Despite these challenges, the CC&V mine remains a valuable asset with potential for future growth beyond the initial plan. The mine’s economics are still solid, with strong after-tax operating cash flow and free cash flow projections. However, SSR Mining’s valuation is expected to remain slightly discounted compared to its peers until more clarity is achieved at the Çöpler site. These mixed factors contribute to the Hold rating, as the company’s strengths are balanced by uncertainties and cost pressures.
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, Aya Gold & Silver, and Equinox Gold.
In another report released on November 5, CIBC also maintained a Hold rating on the stock with a $28.50 price target.