Why SSR Mining Stock Popped Today

SSR Mining (NASDAQ: SSRM) banal jumped 8.5% done 11:30 a.m. ET Friday aft UBS expert George Eadie raised his terms people to $42 and urged investors to bargain the banal connected caller weakness.

Priced nether $27 per stock today, the expert is forecasting much than a 56% nett for caller investors wrong a year.

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The terms of golden -- up 3.4% contiguous -- is down 13% since the time earlier the Iran warfare began, falling from $5,248 per ounce to conscionable $4564.60 today. SSR Mining, which mines gold, has been deed adjacent harder, falling 17% implicit the aforesaid one-month period. This disparity successful declines, however, is starting to get Wall Street analysts excited -- particularly fixed the semipermanent prospects for gains successful gold.

In a enactment retired yesterday, Wells Fargo forecast that golden prices that topped $5,600 successful January could instrumentality to those levels -- and adjacent spell farther -- arsenic the shiny metallic resumes its humanities relation arsenic a store of worth and a harmless haven successful times of planetary unrest. Wells believes golden prices could extremity this twelvemonth selling betwixt $6.100 and $6,300 an ounce -- and that depressed golden banal prices supply a "tactical" buying accidental today.

I agree. Priced astatine lone 12.4 times trailing earnings, SSR Mining banal appears vastly undervalued if golden prices resume rising, arsenic Wells Fargo predicts. What's more, moving disconnected of guardant estimates, SSR banal costs little than 5 times guardant net contiguous -- and according to astir analysts polled by S&P Global Market Intelligence, SSR's net volition turn astatine 16.5% annually implicit the adjacent 5 years.

At this valuation, SSR banal is excessively inexpensive to ignore.

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