Core Insights - SSR Mining Inc. has temporarily suspended operations at the Seabee mine in Canada due to power outages caused by nearby forest fires [1][8] - The Seabee mine produced 26,001 ounces of gold in Q1 2025, reflecting a year-over-year increase of 9.4% [2][8] - Despite the operational halt, SSR Mining's shares rose by 3% and reached a 52-week high of $13.33, driven by high gold and silver prices [4][8] Production and Financial Outlook - SSR Mining expects the Seabee mine to produce between 70,000 to 80,000 ounces of gold for the full year of 2025 [3] - The cost of sales for the mine is projected to be between $1,230 and $1,270 per payable ounce, with an all-in sustaining cost (AISC) anticipated to be between $1,710 and $1,750 per payable ounce for 2025 [3] Market Performance - Silver prices have reached a 13-year high above $36 per ounce, while gold prices have also seen significant increases, currently around $3,320 per ounce [5] - SSR Mining's share price has surged by 147.9% over the past year, contrasting with a 2.2% decline in the industry [7] Strategic Moves - The recent acquisition of the Cripple Creek & Victor mine from Newmont Corporation positions SSR Mining as the third-largest gold producer in the United States, expected to boost annual production by 170,000 ounces of gold [6]

Core Viewpoint - SSR Mining (SSRM) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5]. - Institutional investors often adjust their valuations based on earnings estimates, leading to significant stock price movements when they buy or sell large amounts of shares [3]. Company Performance Indicators - SSR Mining is projected to earn $1.09 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 289.3% [7]. - Over the past three months, the Zacks Consensus Estimate for SSR Mining has risen by 10.7%, indicating a positive trend in earnings estimates [7]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, highlighting SSR Mining's strong position in terms of earnings estimate revisions [8][9].

Core Insights - SSR Mining Inc. (SSRM) reached a new 52-week high of $11.89 before closing at $11.74, with a market capitalization of $2.38 billion and a Zacks Rank 2 (Buy) [1] - SSR Mining's stock has increased by 68.6% year-to-date, significantly outperforming the industry growth of 8.6% and the Basic Materials Sector's growth of 6.8% [1] Acquisition and Production - SSR Mining completed the acquisition of the Cripple Creek & Victor (CC&V) mine from Newmont Corporation, positioning itself as the third-largest gold producer in the U.S. [4] - The CC&V mine has reported gold Mineral Reserves of 2.4 million ounces, with an 85% year-over-year increase from 2023 [5] - The addition of CC&V is expected to boost SSR Mining's annual gold production by 170,000 ounces [6] Production Guidance - SSR Mining anticipates a more than 10% year-over-year increase in gold equivalent ounces (GEO) production for 2025, with expected production ranging from 410,000 to 480,000 ounces [6][7] - The Marigold mine is projected to produce 160,000-190,000 ounces, while the Seabee mine is expected to yield 70,000-80,000 ounces [7] - The expected gold production from the CC&V mine for 2025 is estimated at 90,000-110,000 ounces [8] Financial Performance - In Q1 2025, SSR Mining reported adjusted earnings per share of 29 cents, exceeding the Zacks Consensus Estimate by 262.50% and marking a 164% improvement from the previous year [9] - Total revenues for Q1 2025 increased by 38% year-over-year to $317 million [9] - The average realized gold price rose by 42% to $2,935 per ounce, while the average realized silver price increased by 46% to $23.23 per ounce [10] Development and Exploration - SSR Mining invested $12.2 million in the Hod Maden project during Q1 2025, focusing on engineering and early-stage site development [11] - The company is advancing exploration and development initiatives across its asset portfolio to identify high-return, low-capital opportunities [11] Market Trends - Gold prices have increased by 25.5% in 2025, driven by geopolitical tensions and central bank buying, while silver prices have risen by 14.6% due to demand from the electrification sector [12]

Company Overview - SSR Mining (SSRM) currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for outperformance in the market [4] Performance Metrics - Over the past week, SSRM shares have increased by 7.26%, outperforming the Zacks Mining - Miscellaneous industry, which rose by 3.66% [6] - In a longer timeframe, SSRM's monthly price change is 9.25%, significantly higher than the industry's 1.69% [6] - Over the last quarter, SSRM shares have risen by 17.42%, and they have surged by 113.81% in the past year, while the S&P 500 has only moved 1.35% and 13.07% respectively [7] Trading Volume - SSRM's average 20-day trading volume is 2,125,763 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - Recent earnings estimate revisions show 1 upward revision and 3 downward revisions for the current fiscal year, raising the consensus estimate from $0.95 to $1.09 over the past 60 days [10] - For the next fiscal year, 4 estimates have moved upwards with no downward revisions, indicating positive sentiment [10] Conclusion - Given the strong performance metrics and positive earnings outlook, SSR Mining is recommended as a solid momentum pick for investors [12]

Group 1 - SSR Mining Inc. reported strong performance in the first quarter of 2025, with all operations meeting or exceeding plans [6] - The financial statements are prepared in accordance with U.S. GAAP and are available on EDGAR, SEDAR, and the company's website [3] - The conference call included discussions on forward-looking statements and non-GAAP financial measures, with relevant disclosures provided in the press release [4]

Production and Cost Metrics - SSR Mining reported first quarter 2025 production of 103,805 gold equivalent ounces at a cost of sales of $1,312 per payable ounce and all-in sustaining costs (AISC) of $1,972 per payable ounce[4]. - The company announced 2025 production guidance of 410,000 to 480,000 gold equivalent ounces with consolidated cost of sales expected to be between $1,375 and $1,435 per payable ounce[7]. - Marigold's production guidance for 2025 is set at 160,000 to 190,000 ounces of gold, with mine site cost of sales projected between $1,530 and $1,570 per payable ounce[10]. - Cripple Creek & Victor produced 11,282 ounces of gold from February 28 to March 31, 2025, with a cost of sales of $1,590 per payable ounce and AISC of $1,774 per payable ounce[12]. - Seabee produced 26,001 ounces of gold in Q1 2025, a 9.2% increase from 23,773 ounces in Q1 2024[15]. - Puna produced 2,505,000 ounces of silver in Q1 2025, a 30.8% increase from 1,915,000 ounces in Q1 2024[18]. - Full-year 2025 production guidance for Seabee is set at 70,000 to 80,000 ounces of gold with AISC of $1,710 to $1,750 per payable ounce[16]. - Full-year 2025 production guidance for Puna is projected at 8.00 to 8.75 million ounces of silver with AISC of $14.25 to $15.75 per payable ounce[19]. - Seabee's AISC per payable ounce decreased to $1,374 in Q1 2025 from $1,416 in Q1 2024[15]. - Puna's AISC per payable ounce improved to $13.16 in Q1 2025 from $15.61 in Q1 2024[18]. Financial Performance - The company generated net income attributable to SSR Mining shareholders of $58.8 million, or $0.28 per diluted share, and adjusted net income of $61.6 million, or $0.29 per diluted share in Q1 2025[5]. - SSR Mining's total revenue for Q1 2025 was $316.6 million, compared to $230.2 million in Q1 2024, reflecting a significant year-over-year increase[5]. - The company reported operating cash flow of $84.8 million and free cash flow of $39.3 million in the first quarter of 2025[5]. - Average realized gold price increased to $2,934 per ounce sold in Q1 2025, up 41.8% from $2,070 in Q1 2024[15]. - Average realized silver price rose to $32.47 per ounce sold in Q1 2025, a 46.3% increase from $22.18 in Q1 2024[18]. - The company reported a cash cost per gold ounce sold of $1,454 in Q1 2025, compared to $1,333 in Q1 2024, reflecting an increase of approximately 9.1%[41]. - AISC per gold equivalent ounce sold in Q1 2025 was $1,972, up from $1,569 in Q1 2024, marking an increase of about 25.7%[41]. - The company reported a net cash position of $89,612 thousand as of March 31, 2025, down from $157,882 thousand at the end of 2024, indicating a decrease of approximately 43.2%[33]. - Free cash flow for the three months ended March 31, 2025, was $39,298,000, a recovery from a negative free cash flow of $9,404,000 in Q1 2024[45]. - Cash provided by operating activities for Q1 2025 was $84,805,000, up from $24,631,000 in Q1 2024, indicating improved operational efficiency[46]. Liquidity and Capital Expenditures - As of March 31, 2025, SSR Mining had a cash and cash equivalent balance of $319.6 million and total liquidity of $819.6 million, including an undrawn revolving credit facility[4]. - The company anticipates sustaining capital expenditures of $119 million for 2025, which includes various operational costs[39]. - The company has a borrowing capacity of $400 million under its credit facility, with no borrowings outstanding as of March 31, 2025[34]. - The company spent $12.2 million on development and exploration activities at Hod Maden during the first quarter of 2025[4]. - The company included $9.4 million in share-based compensation expense in general and administrative expenses for Q1 2025[41]. Operational Challenges - Çöpler operations were suspended following an incident in February 2024, impacting production and costs[20]. - The company continues to work on the restart of the Çöpler mine, with no material capital expenditures expected until operations resume[40]. - The effects of the Çöpler Incident resulted in expenses of $1.3 million in Q1 2025, compared to significant reclamation and remediation costs totaling $218.3 million in Q1 2024[43].

Financial Performance - Revenue for Q1 2025 increased to $316,618,000, up 37.5% from $230,234,000 in Q1 2024[17] - Operating income for Q1 2025 was $66,892,000, compared to an operating loss of $376,424,000 in Q1 2024[17] - Net income attributable to SSR Mining shareholders was $58,781,000 in Q1 2025, a significant recovery from a net loss of $287,082,000 in Q1 2024[17] - Basic net income per share attributable to SSR Mining shareholders was $0.29 in Q1 2025, a recovery from a loss of $1.42 in Q1 2024[17] - The net income for the three months ended March 31, 2025, was $54.4 million, compared to a net loss of $358.2 million for the same period in 2024[27] - Net income attributable to SSR Mining shareholders for the three months ended March 31, 2025, was $94,136 thousand, compared to a net loss of $267,725 thousand in the same period of 2024[52] - Adjusted attributable net income for the same period was $61.6 million, a significant increase of 173.5% compared to $22.5 million in 2024[110] - For the three months ended March 31, 2025, net income attributable to SSR Mining shareholders was $58.8 million, compared to a loss of $287.1 million for the same period in 2024[174] Cash Flow and Liquidity - Cash and cash equivalents decreased to $319,612,000 as of March 31, 2025, down from $387,882,000 at the end of 2024[22] - The company reported net cash provided by operating activities of $84,805,000 for Q1 2025, compared to $24,631,000 in Q1 2024[20] - Cash provided by operating activities for the three months ended March 31, 2025, was $84.8 million, significantly higher than $24.6 million in 2024[176] - Free cash flow for the three months ended March 31, 2025, was $39.3 million, compared to a negative free cash flow of $9.4 million in the same period of 2024[176] - Cash used in investing activities surged to $154.3 million, an increase of $117.5 million, mainly due to the acquisition of CC&V[152] Assets and Liabilities - Total assets increased to $5,644,508,000 as of March 31, 2025, compared to $5,189,020,000 at the end of 2024[22] - Total liabilities rose to $1,640,900,000 as of March 31, 2025, up from $1,242,159,000 at the end of 2024[22] - The company’s retained earnings increased to $172,146,000 as of March 31, 2025, up from $113,365,000 at the end of 2024[22] - As of March 31, 2025, total equity amounted to $4,003.6 million, an increase from $3,946.9 million as of December 31, 2024[27] - The company had a total debt balance of $228,822,000 as of March 31, 2025, consistent with the previous quarter[92] Acquisitions - SSR Mining acquired Cripple Creek and Victor Gold Mine for $100 million in upfront cash and up to $175 million in milestone-based payments[39] - The acquisition of CC&V is expected to enhance the company's scale, free cash flow, and portfolio diversification[39] - The acquisition of CC&V contributed $34.9 million in revenue and $10.1 million in net income for the three months ended March 31, 2025[49] - The company incurred $6.8 million in transaction and integration costs related to the acquisition during the three months ended March 31, 2025[52] - Total assets acquired in the CC&V acquisition amounted to $513,223 thousand, with total liabilities of $269,025 thousand, resulting in net assets of $244,198 thousand[46] Operational Highlights - The company operates five mining operations across the United States, Türkiye, Canada, and Argentina, producing gold doré and various metal concentrates[28] - Gold produced decreased by 5.5% to 75,869 ounces, and gold sold decreased by 13.0% to 77,708 ounces, primarily due to the suspension of operations at the Çöpler property[110] - Gold production at Marigold increased by 11.3% to 38,586 ounces in Q1 2025, with revenue rising by $40.5 million or 52.8%[132] - Silver production increased by 30.8% to 2,505,000 oz compared to 1,915,000 oz in the same period last year[139] Costs and Expenses - The cost of sales increased by $10.7 million, or 8.5%, to $136.6 million, attributed to the acquisition of CC&V and higher costs at Marigold and Puna[115] - General and administrative expenses increased to $23.9 million in Q1 2025 from $12.9 million in Q1 2024, primarily due to share-based compensation expenses rising to $9.4 million[117] - Exploration and evaluation costs decreased to $6.9 million in Q1 2025 from $10.2 million in Q1 2024, attributed to reduced drilling activity[118] - Care and maintenance costs rose to $35.8 million in Q1 2025 compared to $14.4 million in Q1 2024, reflecting a full quarter of costs post-Çöpler Incident[120] Incident Impact - The company suspended operations at the Çöpler mine due to a significant incident, with no current estimate for resuming operations[30] - The Çöpler Incident has led to the permanent closure of heap leach processing, significantly impacting the company's operations and financial condition[108] - The effects of the Çöpler Incident included reclamation costs of $11.2 million and remediation costs of $261.7 million for the three months ended March 31, 2024[174] Market and Shareholder Information - SSR Mining's common shares are listed on the Toronto Stock Exchange and Nasdaq under the symbol "SSRM" and have voluntarily delisted from the Australian Securities Exchange[29] - The effective income tax rate for the first three months of 2025 was 14.3%, up from 5.4% in the same period of 2024[74] - The company has been involved in multiple securities class actions alleging violations of the Exchange Act, with ongoing litigation as of the report date[186][188]

Company Performance - SSR Mining (SSRM) has outperformed its peers in the Basic Materials sector with a year-to-date return of approximately 47.3% compared to the sector average of 3.6% [4] - The Zacks Consensus Estimate for SSRM's full-year earnings has increased by 18.1% over the past quarter, indicating improving analyst sentiment and a positive earnings outlook [3] - SSR Mining holds a Zacks Rank of 2 (Buy), suggesting it is positioned to outperform the broader market in the near term [3] Industry Context - SSR Mining is part of the Mining - Miscellaneous industry, which consists of 58 companies and currently ranks 147 in the Zacks Industry Rank [5] - The average return for stocks in the Mining - Miscellaneous industry this year is 3.8%, indicating that SSR Mining is performing significantly better than its industry peers [5] - Another notable performer in the Basic Materials sector is Franco-Nevada (FNV), which has achieved a year-to-date return of 44.7% and also holds a Zacks Rank of 2 (Buy) [4][6]

Production and Costs - Fourth quarter 2024 production was 124,154 gold equivalent ounces at a consolidated cost of sales of $1,295 per payable ounce and all-in sustaining costs (AISC) of $1,857 per payable ounce[2]. - For the full year 2024, SSR Mining produced 399,267 gold equivalent ounces at a consolidated cost of sales of $1,307 per payable ounce and AISC of $1,878 per payable ounce, including $60.8 million in cash care & maintenance costs at Çöpler[2]. - Marigold operations produced 168,262 ounces of gold in 2024 at a cost of sales of $1,457 per payable ounce and AISC of $1,711 per payable ounce[4]. - Puna operations achieved record silver production of 10.5 million ounces in 2024 at a cost of sales of $16.14 per payable ounce and AISC of $15.56 per payable ounce[4]. - Gold produced in Q4 2024 was 89,178 ounces, down from 178,677 ounces in Q4 2023, representing a 50% decrease[12]. - AISC per gold equivalent ounce sold for Q4 2024 was $1,857, an increase from $1,326 in Q4 2023, representing a rise of 40%[12]. - Cash costs for gold sold in Q4 2024 were reported at $4,419 per ounce, compared to $1,146 in Q4 2023[23]. - The average cost of sales per gold equivalent ounce sold in 2024 was $1,307, compared to $1,141 in 2023, reflecting an increase of approximately 15%[52]. Financial Performance - In the fourth quarter of 2024, net income attributable to SSR Mining shareholders was $5.6 million, or $0.03 per diluted share, while adjusted net income was $21.3 million, or $0.10 per diluted share[2]. - Full-year 2024 net income attributable to SSR Mining shareholders was $(261.3) million, or $(1.29) per diluted share, reflecting approximately $272.9 million in reclamation and remediation costs due to the Çöpler Incident[2]. - Revenue for Q4 2024 was $323,187,000, a decrease of 24.2% from $425,897,000 in Q4 2023[12]. - Adjusted net income attributable to SSR Mining shareholders for Q4 2024 was $21,266,000, compared to $127,077,000 in Q4 2023, a decrease of 83.3%[12]. - SSR Mining reported a net income attributable to shareholders of $5,555,000 for Q4 2024, a significant improvement from a net loss of $217,845,000 in Q4 2023[54]. - Adjusted net income attributable to SSR Mining shareholders for the twelve months ended December 31, 2024, was $57,591,000, compared to $276,494,000 for the same period in 2023[54]. - Free cash flow for Q4 2024 was $56,406,000, down from $144,370,000 in Q4 2023, while the twelve-month free cash flow was $(103,404,000) compared to $198,303,000 in 2023[56]. Cash and Liquidity - As of December 31, 2024, SSR Mining had a cash and cash equivalent balance of $387.9 million and total liquidity of $887.5 million[2]. - As of December 31, 2024, total cash was $387,882,000, down from $492,494,000 as of December 31, 2023, representing a decrease of approximately 21.2%[43]. - Total liquidity as of December 31, 2024, was $887,882,000, down from $992,494,000 in 2023, marking a decrease of about 10.6%[44]. - The company has no outstanding borrowings on its $400 million credit facility, which includes a $100 million accordion feature[44]. Mineral Reserves and Resources - Total Proven and Probable gold equivalent Mineral Reserves as of December 31, 2024 were 8.0 million ounces, up 3% year-over-year[3]. - SSR Mining's total Proven and Probable Mineral Reserves as of December 31, 2024, were 7.57 million ounces of gold, reflecting a 4% increase year-over-year[29]. - The company reported a 9% increase in Measured and Indicated Mineral Resources for gold, totaling 4.4 million ounces as of December 31, 2024[29]. - SSR Mining's total Measured and Indicated (M&I) Resources decreased to 4,398,000 ounces of gold as of December 31, 2024, from 4,034,000 ounces as of December 31, 2023[58]. Reclamation and Remediation - The Company spent $127.6 million on reclamation and remediation efforts at Çöpler in 2024, with forecasted future spend of $250.0 to $300.0 million[4]. - The impact of the Çöpler Incident resulted in a total impairment charge of $91.4 million related to plans to permanently close the heap leach pad[54]. - The company reported a care and maintenance expense of $70,189,000 in 2024, compared to $21,282,000 in 2023, indicating a significant increase[52]. Acquisitions - SSR Mining announced the acquisition of the Cripple Creek & Victor Gold Mine for $100 million in upfront cash and up to $175 million in milestone-based payments[4]. - SSR Mining announced a definitive purchase agreement to acquire the CC&V Gold Mine, with the transaction expected to close in Q1 2025[28]. Operational Metrics - Cash provided by operating activities for Q4 2024 was $94,979,000, compared to $203,159,000 in Q4 2023, a decrease of 53.3%[12]. - Total assets as of December 31, 2024, were $5,189,020,000, a decrease from $5,385,773,000 as of December 31, 2023[12]. - General and administrative expenses in Q4 2024 were $17,558,000, up from $15,080,000 in Q4 2023, an increase of 16.5%[51]. Market Conditions - Average realized gold price per ounce sold increased to $2,603 in Q4 2024 from $1,976 in Q4 2023, a rise of 31.6%[12]. - The average realized gold price for Q4 2024 was $2,230 per ounce sold, significantly higher than $1,989 in Q4 2023[23]. - The average realized silver price for Q4 2024 was $31.53 per ounce sold, compared to $23.23 in Q4 2023[19].

Core Viewpoint - SSR Mining (SSRM) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for SSR Mining projects earnings of $0.85 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 203.6% [9]. - Over the past three months, the Zacks Consensus Estimate for SSR Mining has risen by 27.5%, indicating a trend of increasing earnings estimates [9]. Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, making it a reliable tool for investors to gauge stock performance [2][3]. - Stocks rated Zacks Rank 1 have historically generated an average annual return of +25% since 1988, showcasing the effectiveness of the rating system [8]. Market Implications - The upgrade to Zacks Rank 1 places SSR Mining in the top 5% of Zacks-covered stocks, suggesting a strong potential for price appreciation in the near term due to improved earnings outlook [11]. - The correlation between earnings estimate revisions and stock price movements highlights the importance of tracking these revisions for investment decisions [7][5].