Monday, September 15, 2025

SSR Mining: BMO Lifts Price Target To $26

On March 18th, BMO Capital Markets’ updated its model for SSR Mining’s (TSX: SSRM) based on recently filed technical reports, which were released in late February. Though BMO Capital Markets raised their 12-month price target on SSR Mining to $26 from $24, they lowered their net asset value by 5%. They write, “With an expected stable production outlook in the medium term, and a strong balance sheet, we are increasing our target price to $26 to reflect premium multiples we think SSR is deserving of.”

SSR Mining has seen a steady increase in their average 12-month price target from their 4 analysts, the average has gone up from US$25.19 in late February to $27.58 now, which represents a 28% upside to the current price. All 4 analysts covering the stock have a buy rating on it, while the highest 12-month price target sits t US$29.75 from CIBC and represents a 37% upside to the stock price.

On the technical reports released late February, BMO Capital Markets says that compared to their previous assumptions, which were not given, the overall reserves increased. The main contribution comes from Adrich now being included in the reserve case at Coppler. Though BMO has increased its longer-term cost assumptions, as BMO now assumes that operating costs will grow slightly from $671.5 million in 2021 to $695.9 million in 2023. They now believe the net asset value to be $14.44 per share at a longer-term price of $1,400/$20 per ounce of gold/silver.

Onto updating their models based on the company’s guidance, they say that they have the company spending $218 million of capital at Copler. Most of the spending at this mine will be done in 2024, which will bring on a copper concentrator in 2025. Because of this, BMO lowered its net asset value to $1.28 billion, down 9%. While also the resource updates at Seabee to show lower grades, lowering their net present value to $356 million from $445 million. They also elected to lower their Marigold valuation from $785 million to $696 million.

Below you can see the impacted financial results as a result of the changes made to BMO’s model.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

SSR Mining Sees Revenue Halved In Q3 Due To Copler Shutdown

It appears that the shutdown at its largest mine in Turkey significantly impacted SSR Mining...

Tuesday, November 8, 2022, 08:14:20 AM

SSR Mining Sees Turkish Subsidiary Post Job Ads While Search Continues For Missing Miners

It’s being reported that SSR Mining’s (TSX: SSRM) Turkish subsidiary, Anagold Mining, has already posted...

Saturday, February 17, 2024, 11:29:00 AM

SSR Mining Guides To Between 680,000 And 760,000 Gold Equivalent Ounces Of Production For 2020

SSR Mining (TSX: SSRM) (NASDAQ: SSRM) this morning updated the market with its full year...

Friday, September 18, 2020, 08:49:39 AM

SSR Mining Closes On All-Cash Purchase Of Taiga Gold

SSR Mining (TSX: SSRM) has finally completed its acquisition of Saskatchewan-focused junior explorer Taiga Gold...

Friday, April 15, 2022, 10:48:00 AM

SSR Mining Announces Share Buyback Program

SSR Mining Inc. (TSX: SSRM) announced this morning that it has undertaken a normal course...

Monday, April 19, 2021, 08:22:55 AM