Tag: SSR

UBS has returned – “initiation” – with a Buy rating and $30.50 price target.

SSR Mining’s guidance for 2021 proved in-line with UBS’s forecasts, but costs are expected to be higher and more investments are on the agenda (some $100m more). New price target of $28 compares with $30 previously. Buy rating retained.

The third quarter dividend surprised UBS and more capital returns are flagged. The results are not indicative that the underlying strength, the broker suggests, because the acquisition of Alacer Gold has meant Copler only contributed two weeks of financials.

UBS has initiated coverage on SSR post its merger with Alacer ((AQG)).