SSR Mining (SSRM.TO) retained its stock rating and price target at RBC Capital Markets and National Bank of Canada, according to notes published Tuesday.

The company kept its Sector Perform rating and US$8 price target at RBC while maintaining its Sector Perform rating and $14.25 price target at National Bank.

SSR's adjusted EPS of US$0.10 per share in the fourth quarter of 2024 missed RBC's forecast of US$0.24 and National Bank's estimate of US$0.21.

In summary of SSRM's Q4 results, RBC noted a production and FCF beat, the CC&V transaction close and guidance "still on deck" in Q1 2025

Despite the adjusted earnings miss, RBC said production and FCF beat expectations (primarily on higher production from Seabee, 10% of NAV, and Puna, 5% of NAV) and backing out care and maintenance costs from Copler mine Turkey would have resulted in an earnings beat.

"We think investors need more clarity on the outcome in Turkey before getting more comfortable with the valuation and outlook," RBC said.

Meanwhile, National Bank said its price target was derived from a 100% weighted 3.75x NTM EV/EBITDA target multiple, which implies a 0.80x P/NAV multiple. The bank expects SSR's stock to trade below peers in today's trading following the earnings miss, although it said this may be partially offset by the better-than-expected free cash flow generation.

In fact, SSR's share price had jumped more than 9% at last look Wednesday on the TSX.