Why SSR Mining Stock Popped Today
SSR Mining is flush with cash, and spending it on dividends and stock buybacks.
Overview
SSR Mining (NASDAQ: SSRM) stock struck gold on Tuesday, soaring 9% in the first 10 minutes of trading.
Investors in the gold mining stock appear pleased by SSR's announcement yesterday that it is ready to reinstate its dividend and will also buy back $500 million of its own stock. The twin moves also prompted RBC Capital to double down on its "outperform" rating on the stock, and reiterate its $40 price target -- implying SSR stock could gain 27% over the next 12 months.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.