SSR Mining Inc. (SSRM:TSX) emerged as one of the top gainers on the S&P/TSX composite index this week, climbing just over 12 per cent. Analysts anticipate further upside for the precious metals miner. ATB Cormark Capital Markets analyst Richard Gray, in a June 17 note, maintained his price target of $68 for the company, which is incorporated in British Columbia, headquartered in Colorado, and operates in the United States, Canada, Turkey, and Argentina. SSR closed Friday at $43.54. Year to date, shares are up 42 per cent, though the stock has experienced fluctuations and currently trades off its 2026 closing high of $49.41.
Gray stated he is sticking with his price target as “SSR continues to aggressively return its cash to shareholders,” including $300 million spent in the second quarter of 2026 and the approval of an additional $500 million in buybacks. “The approval … demonstrates management’s confidence that the company will continue to generate strong free cash flow as it refocuses on its North American portfolio and continues to evaluate growth opportunities,” Gray said. Despite the strong move up this week, the stock remains at an “attractive entry point,” he added. Based on the calls of 10 analysts, SSR has a 12-month price target of $60.37, according to Bloomberg.
Cogeco Could Have 30% Upside on Possible U.S. Asset Sale
TD Cowen analyst Vince Valentini maintained his price target of $83 and buy recommendation for Cogeco Communications Inc. (CCA:TSX) after the telco wrote down the assets of Breezeline, its U.S. cable asset. Cogeco closed Friday at $63.85. The writedown has “stimulated” investor speculation that Cogeco may consider selling the asset, based on historical patterns where writedowns led to sales in “a reasonably short period of time,” Valentini said in a June 19 note. While there is currently no evidence of an imminent sale, Valentini believes the writedown has increased the likelihood that Cogeco could exit its U.S. business within the next 12 to 24 months.
Breezeline continues to generate free cash flow, which could attract “financial players,” while existing cable companies might be drawn by scale and cost efficiencies, even though “cable is out of favour in the U.S.,” Valentini noted. A sale of Breezeline would leave investors with a much “cleaner and better performing Canadian business,” potentially setting the stage for the sale of mobile spectrum or even the entire company. Cogeco has a 12-month price target of $72.60 based on the calls of 10 analysts, according to Bloomberg.
Signs of a Market Top, Says Rosenberg
David Rosenberg, president of Rosenberg Research and Associates Inc., indicated in a June 19 note that there are signs stock markets have hit a top driven by momentum and “speculative growth stocks.” He pointed out that “only” 35 per cent of S&P 500 index members have outperformed the market in 2026, and over the past two months, 18 of the top 20 companies have been in the tech sector. “Flows into indexed funds have totalled more than $600 billion so far this year as FOMO has taken over, yet again,” he said.
SPACs (special purpose acquisition companies) have rebounded to 44 this year from 33 last year, with deals worth US$37 billion compared to US$15 billion in 2025. The volume and number of capital raises in the artificial intelligence sector, along with the IPO “craze,” remind Rosenberg of 1999 and the lead-up to the dot-com bubble burst. With the market appearing hot, Rosenberg suggests investing in short-term bonds, which are influenced by central bank interest rate policy. “This creates an attractive opportunity should the Federal Reserve prove less restrictive than markets currently expect,” he said. The Canadian yield curve offers “the cleanest opportunity,” he added. He also favors Canadian banks: “High profitability and supportive thematic tailwinds justify above-average multiples,” Rosenberg concluded.
