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Why SSR Mining Stock Popped Today

TheMotleyFool

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Why SSR Mining Stock Popped Today: https://g.foolcdn.com/editorial/images/874846/stacks-of-gold-bars-marked-fine-gold-1000g.jpg

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.

Image source: Getty Images.

Source Fool.com