SSR Mining Inc. (NASDAQ:SSRM) shares surged Wednesday after the company agreed to sell its 80% stake in the Çöpler Mine in Türkiye to Cengiz Holding A.S. for $1.5 billion in cash.
Cengiz Holding will pay a $100 million deposit, credited toward the purchase price at closing. The agreement also includes a $50 million reciprocal break fee and allows either party to terminate the deal, subject to the fee.
Details
The company expects to use the cash proceeds from the transaction to fund ongoing business reinvestment, capital returns, and growth initiatives that enhance value.
The transaction is anticipated to close in the third quarter of 2026, providing the company with substantial liquidity to pursue further growth opportunities.
Additionally, the company is undertaking a strategic review of the remaining operations in Türkiye, including its 20% earned interest in the Hod Maden development project.
This strategic decision aligns with the company’s long-term vision of optimizing its asset portfolio and maximizing returns for investors.
Technical Analysis
The stock is currently trading 5.2% above its 20-day simple moving average (SMA) and 12.4% above its 100-day SMA, indicating a strong upward trend. Over the past 12 months, shares have increased by 18%, and they are currently positioned closer to their 52-week highs than lows.
The RSI is at 55.32, which is considered neutral territory, suggesting the stock is neither overbought nor oversold. Meanwhile, MACD is at 0.10, above its signal line at 0.05, indicating bullish momentum for the stock.
The combination of neutral RSI and bullish MACD suggests mixed momentum, indicating potential for further upward movement if positive sentiment continues.
- Key Resistance: $34.00
- Key Support: $30.00
Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the May 5, 2026, earnings report.
- EPS Estimate: 82 cents (Up from 29 cents)
- Revenue Estimate: $628.15 million (Up from $316.62 million)
- Valuation: P/E of 15.6x (Indicates fair valuation)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $23.99. Recent analyst moves include:
- UBS: Buy (Raises Target to $37.00) (Feb. 18)
SSRM Price Action: SSR Mining shares were up 11.46% at $32.24 at the time of publication on Wednesday. The stock is trading near its 52-week high of $32.60, according to Benzinga Pro data.
