SSR Mining Inc. (SSRM) Upgraded by BMO After $1.5B Çöpler Mine Sale

SSR Mining Inc. (NASDAQ:SSRM) ranks among the best mineral stocks to invest in.

SSR Mining Inc. (SSRM) Upgraded by BMO After $1.5B Çöpler Mine Sale

On March 5, BMO Capital raised SSR Mining Inc. (NASDAQ:SSRM) to Outperform from Market Perform, boosting its price target to C$41 from C$27. The development comes after SSR Mining announced the sale of its Çöpler mine for $1.5 billion in cash.

Analyst Kevin O’Halloran claims that the sale price is more than three times higher than the firm’s $472 million net asset value for the mine. The sale, according to the analyst, eliminates the uncertainty surrounding a possible reset at Çöpler, which was weighing on the stock.

Additionally, on March 20, SSR Mining Inc. (NASDAQ:SSRM) intends to redeem $227.5 million of convertible notes that are due in 2039. As part of this redemption, the company will pay the principal amount, accrued interest, and a make-whole premium.

SSR Mining Inc. (NASDAQ:SSRM), together with its subsidiaries, acquires, explores, and develops precious metal resource properties in the US, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits.

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