Ssr Mining (SSRM)
NASDAQ:SSRM
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SSR Mining
(NASDAQ:SSRM)
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Rating:78Outperform
Price Target:
$36.00
▲(13.39% Upside)
Action:N/A
Date:06/17/26
The score is driven primarily by strong financial performance (low leverage, improving profitability, and solid free cash flow) and a constructive earnings update with significant liquidity and cash-generation strength. These positives are tempered by only moderate technical momentum (negative MACD) and a less attractive valuation (P/E ~28.4 with no dividend), plus the underlying cyclicality in results.
Positive Factors
Very low leverage / strong balance sheet
Extremely low net leverage provides durable financial flexibility: enables funding of growth or M&A, supports large buybacks and cushions commodity-driven operating swings. A strong balance sheet materially lowers refinancing and liquidity risk across commodity cycles.
Negative Factors
High all-in sustaining costs (AISC)
Elevated unit costs structurally compress margin sensitivity to metal prices and limit sustainable free cash flow per ounce. If AISC remains elevated due to fleet upgrades, royalties, or fuel, the firm's cash generation and ability to fund growth or returns may be impaired across multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong balance sheet
Extremely low net leverage provides durable financial flexibility: enables funding of growth or M&A, supports large buybacks and cushions commodity-driven operating swings. A strong balance sheet materially lowers refinancing and liquidity risk across commodity cycles.
Read all positive factors
SSR Mining Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows profit or loss produced by each mine, metal type, or regional unit after operating costs. Helps investors see which operations deliver the best margins, how sensitive earnings are to changes in commodity prices and input costs, and whether the company’s profits are concentrated in a few assets or broadly based.
Shows profit or loss produced by each mine, metal type, or regional unit after operating costs. Helps investors see which operations deliver the best margins, how sensitive earnings are to changes in commodity prices and input costs, and whether the company’s profits are concentrated in a few assets or broadly based.
Data provided by:
The Fly
The FlySSR Mining (SSRM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.42B
Dividend YieldN/A
Average Volume (3M)2.95M
Price to Earnings (P/E)27.6
Beta (1Y)1.30
Revenue Growth75.12%
EPS Growth173.47%
CountryUS
Employees2,300
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.15
Shares Outstanding207,491,070
10 Day Avg. Volume3,409,327
30 Day Avg. Volume2,946,419
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)1.27
Price to Sales (P/S)2.68
P/FCF Ratio18.38
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue3.17
Enterprise Value/Gross Profit6.02
Enterprise Value/Ebitda7.19
Forecast
1Y Price Target
$42.94Price Target Upside35.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)4.44
Revenue Forecast (FY)$2.48B
SSR Mining Business Overview & Revenue Model
Company Description
SSR Mining Inc., along with its affiliated entities, is dedicated to the acquisition, exploration, development, and active management of precious metal deposits across Turkey and the American continents. The company's exploration efforts target va...
How the Company Makes Money
SSR Mining makes money primarily by producing and selling precious metals—mainly gold and, to a lesser extent, silver—from its mining operations. Revenue is generated when mined ore is processed into saleable metal (or metal-bearing product), whic...
SSR Mining Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call communicated a strongly positive operational and financial start to 2026: meaningful free cash flow ($211M), high-margin site performance (Puna and CC&V), debt-free balance sheet, near-term liquidity improvement from an expected $1.5B Çöpler sale, and active capital returns (notably a $300M buyback). Offsetting items include elevated AISC ($2,433/oz), seasonal and weather-related operational impacts at Seabee, care-and-maintenance costs tied to Çöpler until close, contingent payments (Carlton Tunnel), and some uncertainty around Hod Maden. On balance, the strength of cash generation, reduced leverage, and growth catalysts materially outweigh the operational and cost pressures highlighted.Positive Updates
Çöpler divestment announced (material cash proceeds)
Announced definitive agreement to sell SSR's interest in the Çöpler mine for $1.5 billion in cash; transaction progressing and management expects closing by Q3 2026 (management commentary varied between 'by Q3' and 'before end of 2026'). Proceeds expected to materially strengthen the balance sheet and provide additional capital for growth and shareholder returns.
Negative Updates
High all-in sustaining costs (AISC)
Consolidated AISC of $2,433 per gold-equivalent ounce in Q1 2026. Management expects Marigold AISC to peak in 2026 due to timing of fleet replacements and upgrades, indicating near-term cost pressure on margins.
Read all updates
Q1-2026 Updates
Positive
Negative
Çöpler divestment announced (material cash proceeds)
Announced definitive agreement to sell SSR's interest in the Çöpler mine for $1.5 billion in cash; transaction progressing and management expects closing by Q3 2026 (management commentary varied between 'by Q3' and 'before end of 2026'). Proceeds expected to materially strengthen the balance sheet and provide additional capital for growth and shareholder returns.
Read all positive updates
Company Guidance
Management reiterated that 55–60% of full‑year production is expected in H2 2026 with higher sustaining capital in Q2–Q3 and Marigold AISC expected to peak in 2026; Q1 results included 110k gold‑equivalent ounces produced (113k gold‑eq sales), consolidated AISC of $2,433/oz, nearly $600M revenue, net income from continuing operations of $1.16 per diluted share (adjusted $1.15), and free cash flow from continuing operations of $211M, leaving $634M cash and $1.1B total liquidity. Puna delivered >$120M site free cash flow in Q1 on average realized silver >$90/oz and a fifth consecutive quarter of record plant throughput; CC&V generated >$120M in Q1 mine‑site FCF and ~ $325M since the ~$275M acquisition. Management expects the Çöpler sale to close by end‑2026 for $1.5B (Çöpler care & maintenance budget $80–100M FY, roughly $20–25M/Q until close), diesel hedges cover ~70–75% of fuel exposure through 2026 implying ~$7–$10/oz AISC sensitivity per $10/bbl oil (rising to ~ $20/10bbl absent hedges in 2027), and one remaining $87.5M Carlton Tunnel contingent payment is tied to Amendment 14 in ~12–18 months; project economics use $1,700/oz Au and $20.50/oz Ag.SSR Mining Financial Statement Overview
Summary
Income Statement
77
Positive
Balance Sheet
89
Very Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.90B | 1.66B | 995.62M | 1.43B | 1.15B | 1.47B |
| Gross Profit | 1.00B | 860.16M | 351.39M | 408.77M | 498.29M | 878.35M |
| EBITDA | 837.81M | 573.90M | -175.51M | 28.22M | 441.40M | 661.81M |
| Net Income | 233.31M | 395.75M | -261.28M | -98.01M | 194.14M | 368.08M |
Balance Sheet | ||||||
| Total Assets | 5.95B | 6.08B | 5.19B | 5.39B | 5.25B | 5.21B |
| Cash, Cash Equivalents and Short-Term Investments | 674.36M | 574.57M | 417.35M | 513.34M | 695.73M | 1.06B |
| Total Debt | 68.42M | 395.23M | 345.18M | 327.22M | 406.59M | 487.63M |
| Total Liabilities | 1.52B | 1.78B | 1.24B | 1.08B | 1.13B | 1.16B |
| Stockholders Equity | 3.63B | 3.50B | 3.11B | 3.37B | 3.58B | 3.54B |
Cash Flow | ||||||
| Free Cash Flow | 379.78M | 241.65M | -103.40M | 198.30M | 23.38M | 444.18M |
| Operating Cash Flow | 654.33M | 471.85M | 40.13M | 421.73M | 160.90M | 608.99M |
| Investing Cash Flow | -271.03M | -339.70M | -143.12M | -339.26M | -236.28M | -129.14M |
| Financing Cash Flow | -53.36M | 26.17M | 6.92M | -182.26M | -271.78M | -319.77M |
SSR Mining Risk Analysis
SSR Mining disclosed 61 risk factors in its most recent earnings report. SSR Mining reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SSR Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | C$5.43B | 7.14 | 26.78% | ― | 59.11% | 306.31% | |
78 Outperform | $6.42B | 27.61 | 6.72% | ― | 75.12% | 173.47% | |
72 Outperform | C$5.75B | 12.71 | 42.98% | ― | 55.87% | 71.11% | |
66 Neutral | C$5.05B | 14.20 | 40.70% | ― | 207.42% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$4.47B | -63.76 | -6.39% | ― | ― | -408.67% | |
48 Neutral | C$4.84B | -32.03 | -42.54% | ― | ― | -104.74% |
* Basic Materials Sector Average
SSRM
SSR Mining
30.95
17.92
137.53%
TSE:NG
Novagold Resources New
11.15
5.57
99.82%
TSE:SEA
Seabridge Gold
41.52
21.78
110.37%
TSE:KNT
K92 Mining
23.45
7.56
47.58%
TSE:OLA
Orla Mining
14.59
0.36
2.49%
TSE:TXG
Torex Gold Resources
58.17
14.33
32.68%
SSR Mining Corporate Events
Business Operations and StrategyM&A Transactions
SSR Mining exits Hod Maden, strengthens Americas focus
Positive
May 18, 2026
On May 18, 2026, SSR Mining announced a definitive agreement to sell its 20% ownership stake and operatorship in the Hod Maden development project to Lidya Mines in exchange for an uncapped 4.0% net smelter return royalty on 100% of the project. T...
Executive/Board ChangesShareholder Meetings
SSR Mining Shareholders Back Board, Pay, and Auditor
Neutral
May 7, 2026
On May 7, 2026, SSR Mining Inc. reported the results of its 2026 Annual Meeting of Shareholders, held that same day, confirming that all eight board nominees were elected as directors. Support levels varied, with most directors receiving strong ma...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
SSR Mining Divests Çöpler Mine in Strategic Portfolio Shift
Negative
Mar 26, 2026
On March 3, 2026, SSR Mining Inc. agreed to sell its 80% stake in the Çöpler mine and related Turkish properties to Cengiz Holding for $1.5 billion in cash, a deal later formalized in a March 24, 2026 share purchase agreement. The transa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.