As previously reported, CIBC upgraded SSR Mining (SSRM) to Outperformer from Neutral with a price target of $48, up from $35.50. The Copler divestiture repositions SSR as an Americas-focused producer, the analyst tells investors in a research note. SSR is currently the third largest gold producer in the U.S. and its balance sheet will be further strengthened by the sale of Copler, the analyst tells investors in a research note. CIBC believes the shares should no longer trade at a discount to the peer group.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SSRM:
- SSR Mining upgraded to Outperformer from Neutral at CIBC
- SSR Mining price target raised to C$58 from C$46 at Canaccord
- SSR Mining price target raised to C$50 from C$45 at Scotiabank
- SSR Mining price target raised to C$53 from C$45 at TD Securities
- SSR Mining upgraded to Outperform from Market Perform at BMO Capital