The Globe and Mail reports in its Friday, Oct. 2, edition that TD Cowen analyst Steven Green has reaffirmed his "buy" recommendation for SSR Mining. The Globe's David Leeder writes that Mr. Green has an unchanged share target of $52. Analysts on average target the shares at $47.50. Mr. Green believes that SSR Mining's $275-million acquisition of the Cripple Creek & Victor (CC&V) gold mine from Newmont in early 2025 has proven to be a highly accretive and well-timed investment. Mr. Green says in a note: "The acquisition CC&V has generated more than $345-million of FCF, has been a reliable performer, and has the potential for a long mine life. The current 2.7 Moz reserve supports a 12-year mine life, with significant resources, likely to extend the mine life. We value CC&V at $1.46-billion NAV5-per-cent, representing 28 per cent of our total project NAV.
Next challenge is repeat this success: With over $1.8-billion in cash on the balance sheet, SSR's stated goal is to acquire another project within the Americas (with the U.S. being the highest priority). Management did indicate that they intend to be patient on this however, prioritizing expected returns over doing something quickly."
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