The Globe and Mail reports in its Friday, March 6, edition that National Bank Financial analyst Don DeMarco has upgraded SSR Mining to "overperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco's share target soared $14 to $57. Analysts on average target the shares at $47.88. Mr. DeMarco says selling its 80-per-cent interest in the Copler mine in Turkey to Cengiz Holding for $1.5-billion (U.S.) removes a significant "overhang" for the company. Mr. DeMarco says the agreement has many benefits moving forward, including "restart timing uncertainty; risk of ongoing liabilities or a potentially sizable fine; removes the ongoing annual care and maintenance and remediation outlay, with FY26G at $80-100-million; mitigates company reputation or other impediments that might weigh on the continued operation of the mine." Mr. DeMarco says in a note: "We view counter party risk as low with the buyer privately held Cengiz Holding, one of Turkey's largest industrial companies with operations spanning copper, gold and aluminum mining and processing, with 45k employees and 28 operations across Europe. It has the cash to fund the deal, the deal is not contingent on financing."
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