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SSR Mining (TSX:SSRM): Reassessing Valuation as Turkish Mine Reopening Speculation and Gold Upside Build

Simply Wall St · 2d ago

Renewed focus on SSR Mining amid Turkish mine reopening speculation

SSR Mining (TSX:SSRM) is back in focus as traders weigh the potential reopening of its Turkish mine, previously hit by a dam collapse, in the context of a more favourable gold price environment and improving production visibility.

See our latest analysis for SSR Mining.

That backdrop helps explain why, despite a choppy recent stretch including a 1 week share price return of minus 11.1%, SSR Mining still boasts a powerful year to date share price return of 179.2% and a 1 year total shareholder return of 221.0%. This suggests momentum has cooled in the short term, but the longer term rerating remains intact as reopening hopes build.

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With earnings rebounding, a sizeable discount to analyst targets, and a pivotal Turkish restart still ahead, is SSR Mining’s surging share price still leaving meaningful upside on the table, or is the market already pricing in its next leg of growth?

Most Popular Narrative Narrative: 25.9% Undervalued

With the most followed fair value estimate sitting well above SSR Mining’s last close of CA$28.92, the narrative frames today’s rally as only a partial re rating.

Ongoing expansion of high grade reserves, mine life extension initiatives (for example, at Puna and through organic opportunities at Marigold, Seabee, and CC&V), and the advancement of new projects like Hod Maden could result in higher future production volumes and extended asset lives, positively impacting long term earnings and total shareholder returns.

Read the complete narrative.

Curious how ambitious growth, fatter margins, and a sharply lower future earnings multiple can still point to upside from here? Unpack the full playbook behind this valuation.

Result: Fair Value of $39.01 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent uncertainty around the Çöpler restart and rising remediation costs could quickly challenge the bullish case that underpins today’s valuation optimism.

Find out about the key risks to this SSR Mining narrative.

Build Your Own SSR Mining Narrative

If you see the story differently or prefer to dig into the numbers yourself, you can build a personalized view in just minutes: Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding SSR Mining.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.