SSR Mining downgraded to Neutral from Buy at UBS

UBS downgraded SSR Mining (SSRM) to Neutral from Buy with a price target of $13.85, up from $12.35. SSR Mining remains on track for 2025 production now that Seabee has resumed production following forest fires, but the stock’s strong performance year-to-date has seen the stock reach a fair valuation level, the analyst tells investors in a research note. UBS sees some second half-weighting to production at Marigold and Puna despite the strong March quarter from Seabee.