SSR Mining (SSRM) Stock Forecast & Price Target

SSR Mining is a precious metals mining company with a diversified portfolio of assets, primarily focused on gold and silver production. The recent sale of its Çöpler mine in Turkey for $1.5B will allow the company to exit this jurisdiction and increase its exposure to the more stable and higher premium markets of Canada and the US, which now make up 88% of its NAV and 79% of EBITDA. With a strong pro forma balance sheet and history of prioritizing shareholder returns, we believe SSR Mining is well-positioned for continued success in the precious metals industry.

SSR Mining is facing potential risks with the pending Copler divestiture and Hod Maden royalty conversion, which could expose the company to operating risks in Turkey. Additionally, the company's production is highly concentrated, with its Marigold and CC&V assets accounting for about 70% of its total production. Cost inflation is also a concern, though the company's low net cash position and high diesel hedges provide some offset. Despite a discounted valuation and strong forecast for FCF and EBITDA, heightened risks and cost pressures make for a negative outlook on SSR Mining's stock.