On July 2, SSR Mining rose 6.14% in regular trading, reaching $30.6 per share with turnover of $62.41 million. The rally was driven by broad strength across the gold sector, with industry peers generally advancing 4%-5%, alongside company-specific strategic catalysts.
On the company level, SSR Mining recently completed the sale of its 80% stake in the Copler mine in Turkey to Cengiz for approximately $1.49 billion in cash. Following this divestiture, the company announced an additional $500 million share repurchase authorization and reinstated a quarterly cash dividend of $0.03 per share, signaling strong confidence in future cash flow generation. RBC upgraded the stock to Outperform, while UBS maintained its Buy rating with a $39 target. The analyst consensus target price stands at $43.08, implying over 40% upside from current levels.
The Copler sale, combined with the earlier agreement to sell its 20% Hod Maden stake, completes SSR Mining's strategic pivot to an Americas-focused platform. Within the Gold sector, Anglogold Ashanti rose 5.3%, Coeur Mining gained 5.29%, Barrick Mining added 4.7%, and Newmont Mining climbed 4.56%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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