5 Most Promising Gold Stocks According to Analysts

2. SSR Mining Inc. (NASDAQ:SSRM)

Average Analyst Price Target Upside: 50.83%

Average Analyst Price Target: $16.26

SSR Mining Inc. (NASDAQ:SSRM), previously Silver Standard Resources, is a precious metal mining company that produces gold, silver, copper, lead, and zinc.

On November 30, SSR Mining Inc. (NASDAQ:SSRM) announced that it would sell its San Luis gold and silver development project in Central Peru to Highlander Silver Corp. for $42.5 million. The company will get a 4% net smelter returns royalty on the project.

SSR Mining Inc. (NASDAQ:SSRM) was covered by 7 Wall Street analysts, and 5 maintained a Buy rating on the stock. As of the December 15 market close, the average price target of $16.26 had an upside of 50.83%.

Palm Valley Capital Management commented on SSR Mining Inc. (NASDAQ:SSRM) in its third quarter 2023 investor letter. Here is what it said:

“We did not fully sell any positions during the third quarter. We purchased four new names: Avista Corporation (ticker: AVA), Farmland Partners (ticker: FPI), Equity Commonwealth (ticker: EQC), and SSR Mining Inc. (NASDAQ:SSRM). We believe these opportunities materialized because higher interest rates are disproportionately impacting investor sentiment toward certain sectors, even as capitalization-weighted, tech-heavy indexes have powered through the headwinds.

SSR Mining is back in the Fund after a brief hiatus. SSR is a precious metals producer with four mines located in the United States, Turkey, Canada, and Argentina. The company is selling at a meaningful discount to its tangible book value and our calculated net asset value. SSR has a very strong balance sheet with more cash than debt and $4.6 billion in stockholders’ equity. Furthermore, the firm has a history of generating free cash flow, buying back stock, and paying a sustainable dividend.”