SSR Mining FY2024 EPS Raised by National Bank Financial

National Bank Financial Upgrades SSR Mining Target Price to $45

National Bank Financial analyst Mike Parkin has raised his target price for SSR Mining (TSX: SSRM) (NASDAQ: SSRM) from $41 to $45, implying a potential upside of 18.5% from the current share price of $38.09.

Raised EPS Estimates

Parkin is bullish on SSR Mining due to its strong production outlook and the recent acquisition of Rodinia Lithium. He has raised his EPS estimates for FY2024 from $2.75 to $2.90, reflecting a 5.5% increase.

Strong Production Outlook

SSR Mining has a strong production outlook, with its Seabee Gold Operation expected to produce 310,000 to 330,000 ounces of gold in FY2024, while the Marigold Mine is expected to produce 165,000 to 175,000 ounces of gold.

Rodinia Lithium Acquisition

The recent acquisition of Rodinia Lithium has further strengthened SSR Mining's portfolio, providing the company with exposure to the growing lithium market. The Rodinia Lithium project is expected to produce 75,000 tonnes of lithium carbonate equivalent (LCE) per year, positioning SSR Mining as a major player in the lithium industry.

Upgraded Target Price

Based on these positive factors, National Bank Financial has upgraded its target price for SSR Mining to $45. The analyst notes that the company is well-positioned to benefit from strong gold and lithium markets.

Disclaimer

This article is for informational purposes only and should not be considered investment advice. Investors should always consult a qualified financial advisor before making any investment decisions.