CIBC Downgrades SSR Mining to Neutral, Announces $6 Price Target
Portfolio Pulse from Benzinga Newsdesk
CIBC analyst Cosmos Chiu downgraded SSR Mining (NASDAQ:SSRM) from Outperformer to Neutral and set a price target of $6. This adjustment reflects a change in the bank's outlook on SSRM, potentially due to various factors affecting the company's future performance.
February 14, 2024 | 5:28 pm
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CIBC downgraded SSR Mining from Outperformer to Neutral and set a new price target of $6, indicating a potentially cautious or bearish outlook on the company's future performance.
Analyst downgrades typically lead to a negative short-term impact on the stock price as they reflect a less optimistic view on the company's future earnings potential and growth prospects. The setting of a $6 price target by CIBC suggests a specific valuation expectation that may influence investor sentiment and trading behavior.
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