SSR Mining Inc (TSE:SSRM)
TSX:SSRM
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SSR Mining (SSRM) AI Stock Analysis

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TSE:SSRM

SSR Mining

(TSX:SSRM)

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Neutral 63 (OpenAI - 4o)
Rating:63Neutral
Price Target:
C$32.00
▲(5.65% Upside)
SSR Mining's overall score reflects strong financial recovery and liquidity, tempered by cash flow challenges and high production costs. Technical indicators suggest bearish momentum, while valuation is moderate. The mixed sentiment from the earnings call adds to the cautious outlook.
Positive Factors
Revenue Growth
The company's strong revenue growth indicates effective market penetration and demand for its products, supporting long-term financial health.
Balance Sheet Health
A low debt-to-equity ratio suggests prudent financial management, providing stability and flexibility for future investments and growth.
Strong Cash Position
A robust cash position ensures the company can fund growth initiatives and withstand market fluctuations, enhancing its competitive position.
Negative Factors
High Production Costs
High production costs can pressure margins and profitability, potentially impacting the company's ability to compete effectively in the market.
Cash Flow Challenges
Significant decline in free cash flow growth raises concerns about the company's ability to generate sufficient cash to support operations and growth.
Seabee Operational Issues
Operational challenges at Seabee, with high costs and lower grades, could hinder production efficiency and profitability in the long term.

SSR Mining (SSRM) vs. iShares MSCI Canada ETF (EWC)

SSR Mining Business Overview & Revenue Model

Company DescriptionSSR Mining Inc. is a Canadian-based precious metals company engaged in the acquisition, exploration, development, and operation of resource properties in North America, South America, and Turkey. The company primarily focuses on the production of gold and silver, with its core operations including the Seabee Gold Operation in Canada, the Puna Operations in Argentina, and the Copler Gold Mine in Turkey. SSR Mining aims to deliver sustainable value through responsible mining practices and effective resource management.
How the Company Makes MoneySSR Mining generates revenue primarily through the sale of gold and silver produced from its mining operations. The company benefits from its diversified portfolio of mines and projects, which allows it to mitigate risks associated with fluctuations in metal prices. Key revenue streams include the sale of refined gold and silver, as well as by-products from its mining processes. The company has also established strategic partnerships and joint ventures that enhance its operational capabilities and expand its resource base. Additionally, SSR Mining's focus on cost management and operational efficiency contributes to its profitability, allowing it to maintain competitive production costs in the precious metals market.

SSR Mining Earnings Call Summary

Earnings Call Date:Nov 04, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Feb 25, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with significant cash reserves and progress on key projects like Hod Maden and CC&V, but faced challenges with high production costs and lower-than-expected grades at Seabee. The strong liquidity position and upcoming project milestones offer optimism, though the production guidance and cost concerns temper overall enthusiasm.
Q3-2025 Updates
Positive Updates
Strong Cash Position
Ended the quarter with $409 million in cash and total liquidity of over $900 million, ensuring capacity to fund growth initiatives.
Solid Free Cash Flow
Generated $72 million of free cash flow before working capital adjustments, highlighting strong margins despite investment in growth.
Hod Maden Progress
Spent $44 million advancing the project year-to-date, with a comprehensive update in the new technical report reinforcing attractive asset returns.
CC&V Performance
Produced 30,000 ounces of gold with nearly $115 million in asset level free cash flow since acquisition, showcasing a 10+ year life of mine.
Puna Production
Produced 2.4 million ounces of silver at an AISC of $1,354 per ounce, continuing its track record of solid performance.
Negative Updates
High All-In Sustaining Costs
Produced 103,000 gold equivalent ounces at an all-in sustaining cost of $2,359 per ounce, trending towards the high end of annual guidance.
Seabee Challenges
Produced 9,000 ounces at an AISC of $3,003 per ounce, affected by lower-than-expected grades and focus on underground development.
Production Guidance at Low End
Tracking to close out the year in the lower half of production guidance with full-year production of 327,000 gold equivalent ounces.
Company Guidance
During SSR Mining's third quarter 2025 conference call, the company provided guidance indicating that they are on track to close the year in the lower half of their production guidance, with expectations of a stronger fourth quarter. The full-year production is projected to be 410,000 to 480,000 gold equivalent ounces, with third-quarter production at 103,000 gold equivalent ounces. The all-in sustaining cost (AISC) for the quarter was $2,359 per ounce, or $2,114 per ounce excluding Çöpler. The company ended the quarter with a strong financial position, holding $409 million in cash and total liquidity of over $900 million. Free cash flow before working capital adjustments was reported at $72 million. Significant progress was made on projects such as Hod Maden, with $44 million spent year-to-date and expectations to reach the full-year growth capital guidance of $60 million to $100 million. The Cripple Creek & Victor technical report is anticipated soon, and SSR Mining continues to push for a restart at Çöpler.

SSR Mining Financial Statement Overview

Summary
SSR Mining shows strong revenue growth and improved profitability with a solid balance sheet. However, cash flow challenges and historical volatility in operational efficiency pose potential risks.
Income Statement
72
Positive
SSR Mining shows a strong recovery in its TTM financials with a significant revenue growth rate of 20.39% and improved margins compared to the previous year. The gross profit margin increased to 44.97%, and the net profit margin turned positive at 12.66%, indicating enhanced profitability. However, historical volatility in EBIT and EBITDA margins suggests potential risks in maintaining consistent operational efficiency.
Balance Sheet
68
Positive
The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.11, reflecting prudent financial leverage. The return on equity improved to 5.22% in the TTM period, indicating better utilization of shareholder funds. However, the equity ratio remains stable, suggesting limited changes in asset financing structure.
Cash Flow
60
Neutral
Cash flow analysis reveals a mixed picture with a decline in free cash flow growth rate by -392.48% in the TTM period, raising concerns about cash generation capabilities. However, the operating cash flow to net income ratio of 0.70 indicates reasonable cash flow efficiency, and the free cash flow to net income ratio of 1.10 suggests adequate cash flow coverage for earnings.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.30B995.62M1.43B1.15B1.47B853.09M
Gross Profit585.85M351.39M408.77M498.29M878.35M308.64M
EBITDA349.00M-175.51M28.22M441.40M661.81M324.93M
Net Income164.97M-261.28M-98.01M194.14M368.08M151.53M
Balance Sheet
Total Assets5.80B5.19B5.39B5.25B5.21B5.24B
Cash, Cash Equivalents and Short-Term Investments438.49M417.35M513.34M695.73M1.06B887.38M
Total Debt356.63M345.18M327.22M406.59M487.63M513.38M
Total Liabilities1.71B1.24B1.08B1.13B1.16B1.31B
Stockholders Equity3.26B3.11B3.37B3.58B3.54B3.43B
Cash Flow
Free Cash Flow159.99M-103.40M198.30M23.38M444.18M179.28M
Operating Cash Flow336.28M40.13M421.73M160.90M608.99M348.62M
Investing Cash Flow-297.41M-143.12M-339.26M-236.28M-129.14M180.79M
Financing Cash Flow26.78M6.92M-182.26M-271.78M-319.77M-173.20M

SSR Mining Technical Analysis

Technical Analysis Sentiment
Positive
Last Price30.29
Price Trends
50DMA
31.44
Negative
100DMA
25.49
Positive
200DMA
20.18
Positive
Market Momentum
MACD
-0.68
Positive
RSI
48.34
Neutral
STOCH
55.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SSRM, the sentiment is Positive. The current price of 30.29 is below the 20-day moving average (MA) of 31.14, below the 50-day MA of 31.44, and above the 200-day MA of 20.18, indicating a neutral trend. The MACD of -0.68 indicates Positive momentum. The RSI at 48.34 is Neutral, neither overbought nor oversold. The STOCH value of 55.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SSRM.

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

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
82
Outperform
C$6.46B14.8120.48%0.69%19.55%36.19%
79
Outperform
$6.82B13.2421.15%0.27%51.00%532.40%
78
Outperform
C$4.22B14.0846.21%81.13%234.33%
71
Outperform
$6.17B13.3017.29%5.33%143.67%
69
Neutral
20.03%-46.48%
63
Neutral
$5.92B20.576.84%33.74%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:SSRM
SSR Mining
30.29
22.54
290.84%
TSE:OGC
OceanaGold
36.62
25.16
219.63%
TSE:CXB
Calibre Mining
2.99
0.84
39.07%
TSE:DPM
Dundee Precious Mtl
32.48
20.16
163.64%
TSE:KNT
K92 Mining
20.12
11.62
136.71%
TSE:TXG
Torex Gold Resources
66.02
38.16
136.97%

SSR Mining Corporate Events

Business Operations and StrategyFinancial Disclosures
SSR Mining Unveils 12-Year Plan for CC&V Gold Mine with Promising Growth Prospects
Positive
Nov 11, 2025

SSR Mining Inc. has announced a 12-year life of mine plan for the Cripple Creek & Victor Gold Mine (CC&V) in Colorado, with a net present value (NPV) of $824 million at current gold prices. The plan highlights potential for further mineral reserve conversion, with an average annual production of 141,000 ounces of gold from 2026 to 2028. The acquisition of CC&V has already proven financially beneficial, with the initial $100 million acquisition cost recovered through mine-site after-tax free cash flow. The report suggests a strong opportunity for future growth, with nearly five million ounces of Measured & Indicated Mineral Resources and two million ounces of Inferred Mineral Resources.

The most recent analyst rating on (TSE:SSRM) stock is a Hold with a C$28.50 price target. To see the full list of analyst forecasts on SSR Mining stock, see the TSE:SSRM Stock Forecast page.

SSR Mining’s Earnings Call: Mixed Sentiments and Future Prospects
Nov 6, 2025

The recent earnings call for SSR Mining presented a mixed sentiment, reflecting both optimism and caution. While the company boasts significant cash reserves and progress on key projects like Hod Maden and CC&V, challenges such as high production costs and lower-than-expected grades at Seabee have tempered enthusiasm. The strong liquidity position and upcoming project milestones offer a positive outlook, although concerns about production guidance and costs remain.

SSR Mining Reports Strong Revenue Growth in Q3 2025
Nov 5, 2025

SSR Mining Inc. is a precious metals mining company with operations in the United States, Türkiye, Canada, and Argentina, focusing on the production of gold, silver, copper, lead, and zinc. The company is listed on the Nasdaq and the Toronto Stock Exchange under the symbol SSRM.

Business Operations and StrategyFinancial Disclosures
SSR Mining Reports Q3 2025 Results and Project Developments
Neutral
Nov 4, 2025

SSR Mining reported its third quarter 2025 results, highlighting a production of 102,673 gold equivalent ounces with costs trending towards the upper end of guidance due to higher gold prices and strong share performance. The company is advancing several key projects, including Hod Maden and Çöpler, with significant investments in development and exploration, aiming to boost its production capacity and extend mine life, particularly in Türkiye.

The most recent analyst rating on (TSE:SSRM) stock is a Buy with a C$39.00 price target. To see the full list of analyst forecasts on SSR Mining stock, see the TSE:SSRM Stock Forecast page.

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.Date of analysis: Nov 13, 2025