Core Insights - AngloGold Ashanti PLC (AU) and SSR Mining Inc. (SSRM) are benefiting from rising gold prices, which are currently above $4,153 per ounce, driven by safe-haven demand and geopolitical risks [1][2][11] AngloGold Ashanti Overview - AngloGold Ashanti has a diversified portfolio with operations in multiple countries, including recent acquisitions of Augusta Gold Corp and Centamin, enhancing its asset base [4][5] - The company reported a 17% year-over-year increase in gold production to 768,000 ounces in Q3 2025, with gold revenues surging 61.9% to $2.37 billion [6] - Projected gold production for 2025 is between 2.9-3.225 million ounces, indicating a year-over-year growth of 9-21% [7] - Despite facing higher operating costs, AU generated a record $920 million in free cash flow in Q3 2025, a 141% increase year-over-year [9] - The company is focused on its Full Asset Potential program to mitigate inflationary impacts and streamline operations [10] SSR Mining Overview - SSR Mining operates in the United States, Turkey, Canada, and Argentina, with the recent acquisition of the Cripple Creek & Victor mine, positioning it as the third-largest gold producer in the U.S. [13] - Total gold production for SSR Mining is expected to be in the lower half of 410,000-480,000 gold equivalent ounces for 2025 [15] - Operations at the Çöpler mine in Turkey are currently suspended, with reclamation costs expected to range from $250-$300 million for 2025 [16] - As of September 30, 2025, SSR Mining had a cash balance of $409 million and available liquidity of $909.3 million [17] Earnings Estimates - The Zacks Consensus Estimate for AngloGold Ashanti's 2025 earnings is $5.71 per share, reflecting a year-over-year growth of 158.4% [18] - SSR Mining's earnings estimate for 2025 is $1.84 per share, indicating a year-over-year jump of 557% [18] Stock Performance and Valuation - Over the past six months, AU stock has gained 105.5%, while SSRM has increased by 92.8% [20] - AU is trading at a forward 12-month earnings multiple of 13.88X, while SSRM is at 6.84X [21] Investment Outlook - Both companies are well-positioned to capitalize on the ongoing rally in gold prices, with AU showing stronger price performance and robust project pipeline [23][24]

Group 1: Company Overview - SSR Mining Inc. (NASDAQ:SSRM) is recognized as one of the best silver mining stocks to invest in currently [1] - The company is a diversified precious metals producer, with its Puna mine in Argentina being one of the largest primary silver mines globally [4] Group 2: Financial Performance - SSR Mining reported Q3 2025 earnings on November 4, with revenue of $385.8 million, marking a 50% increase from Q3 2024 [3] - The revenue growth was attributed to the acquisition of the Cripple Creek & Victor (CC&V) mine in February 2025, which contributed $98.2 million in sales, along with higher realized metal prices across its diversified portfolio [3] Group 3: Market Conditions - Bank of America Securities (BofA) lowered the price target for SSR Mining to $18 from $18.70 while maintaining an Underperform rating, reflecting the tough conditions in the mining sector due to slower demand for commodities in China [2] - The overall mining sector is experiencing pressure on prices and operations, although there is potential for stronger buying in the US and Europe as those economies improve [2]

Group 1 - The article suggests that gold may be poised for a significant year-end rally, indicating a bullish sentiment in the market [1] - A bullish symmetrical triangle continuation pattern is identified in the gold market, with a target price of approximately $4610 based on the depth of the consolidation [1] Group 2 - The author emphasizes the importance of using empirical data and charts to communicate financial narratives effectively [1] - The content is aimed at making financial information relevant and accessible to everyday investors [1]

Group 1 - The article suggests that gold may be poised for a significant year-end rally, indicating a bullish sentiment in the market [1] - A bullish symmetrical triangle continuation pattern is identified in the gold market, with a target price of approximately $4610 based on the depth of the consolidation [1] Group 2 - The author emphasizes the importance of using empirical data and charts to communicate financial narratives effectively [1] - The content is aimed at making financial information relevant and accessible to everyday investors [1]

Core Insights - SSR Mining Inc. is experiencing a significant increase in its stock value, with shares up approximately 277.7% over the past year, indicating strong market performance and investor interest [3][9] - Hillsdale Investment Management Inc. has increased its stake in SSR Mining by acquiring 1,738,825 shares, valued at approximately $42.45 million, reflecting confidence in the company's future prospects [2][9] Company Overview - As of November 7, 2025, SSR Mining's stock price was $19.94, with a market capitalization of $4.04 billion, and revenue for the trailing twelve months (TTM) was $995.62 million, with a net income of $261.28 million [4] - The company operates a diversified portfolio of mining assets, primarily focused on gold production, with additional exposure to silver and base metals, across regions including Turkey, the United States, Canada, and Argentina [5][6] Operational Strengths - SSR Mining's operational model leverages established mining assets and expertise to enhance output and manage costs effectively, positioning the company favorably in a competitive global market [6][10] - The company benefits from a broad geographic reach and jurisdictional balance, which supports resilience and access to a diverse customer base [10] Investment Potential - The company's ability to translate its asset base into sustained free cash flow is critical, as it enters a phase where volume gains and cost discipline can significantly expand profit margins [11] - SSR Mining's operational leverage is highlighted by its capacity to generate cash flow through focused improvements, contrasting with larger mining firms that may face higher costs due to their scale [10]

Core Insights - SSR Mining Inc. operates a diversified portfolio of precious metal mines, primarily focusing on gold production while also engaging in silver and base metals extraction [1][2] - The company has seen a significant increase in its stock price, rising approximately 277.7% over the past year, indicating strong market performance and alpha generation compared to the S&P 500 [2] - Hillsdale Investment Management Inc. has increased its stake in SSR Mining by acquiring 1,738,825 additional shares, valued at approximately $42.45 million, reflecting confidence in the company's fundamentals [4][5] Company Operations - SSR Mining generates revenue through the extraction and sale of precious and base metals from wholly owned mining assets and joint ventures, with gold being the primary revenue driver [2][10] - The company's operations span across Turkey, the United States, Canada, and Argentina, providing geographic diversity and resilience in a competitive market [1][6] Financial Performance - The increase in Hillsdale's position in SSR Mining suggests that the company is entering a more attractive phase, with potential for further growth in free cash flow and margins [5][7] - SSR Mining's operational capabilities are highlighted by its ability to drive cash-flow gains through focused improvements across its assets, contrasting with larger mining companies that face higher operational challenges [6][7] Market Position - The company's broad portfolio and jurisdictional balance provide it with significant operating leverage, allowing for multiple pathways to create value as market conditions improve [6][7] - The current market rally may represent the beginning of a growth phase for SSR Mining, as it continues to execute on its operational strategies [7]

Core Viewpoint - SSR Mining has announced a new technical study for the Cripple Creek & Victor (CC&V) gold mine, indicating an increase in mineral reserves and an extended projected life for the asset [1][2]. Mineral Reserves and Mine Life - CC&V's mineral reserves are now estimated at approximately 2.8 million ounces of gold, an increase from 2.4 million ounces at the end of 2024, allowing for an additional 12 years of mining and stacking, followed by 14 years of residual leaching [2]. - The mine's life plan suggests a long-lived operation, as stated by SSR's executive chairman [2]. Acquisition and Financial Performance - SSR Mining acquired CC&V from Newmont in February, and the operation has already generated over $100 million in after-tax free cash flow, effectively paying back the acquisition cost [3]. - CC&V is projected to produce between 90,000 to 110,000 ounces of gold in the current year, with an average annual output expected to be 141,000 ounces from 2026 to 2028 [3]. Net Present Value and Internal Rate of Return - At an average gold price of $3,240 per ounce, CC&V's after-tax net present value (NPV) is estimated at $824 million, which could rise to approximately $1.5 billion if gold averages $4,000 per ounce [4]. - The acquisition has an implied internal rate of return exceeding 100% based on cash payments and projected cash flow [4]. Resource Expansion Potential - The new technical report includes a proposed expansion of the mine's open pits and leach pads, with significant ore expected to be sourced from existing operational pits [5]. - CC&V holds 235.1 million proven and probable tonnes grading 0.37 grams of gold per tonne, totaling 2.8 million ounces, with additional measured and indicated resources of 4.8 million ounces and inferred resources of 2 million ounces [6]. Future Mine Life Extensions - The additional 6.8 million ounces of resources not included in the current mine plan provide SSR with significant optionality to extend CC&V's mine life in the future [7]. - Analysts view CC&V as a generational asset for SSR, offering substantial free cash flow and leverage to higher gold prices [7]. Cost Projections - SSR anticipates all-in sustaining costs to average $2,051 per ounce of gold sold during the 2026-28 period, and $2,135 for the 2026-30 period [8]. - The higher-than-expected life-of-mine unit operating costs have surprised analysts, exceeding previous estimates and actual costs incurred by both SSR and Newmont [8]. Location and Market Performance - CC&V is situated about 160 km southwest of Denver, covering 61 square kilometers in a prolific U.S. gold mining district, with extensive drilling completed [9]. - SSR's shares experienced a slight decline of 0.2% to C$29.11, giving the company a market capitalization of approximately C$5.9 billion ($4.2 billion) [9].

Core Insights - SSR Mining Inc. announced the results of a Technical Report Summary for the Cripple Creek & Victor Gold Mine, highlighting significant financial metrics related to gold prices and mine valuation [1] Financial Metrics - The after-tax NPV5% of the Cripple Creek & Victor Gold Mine is reported at $824 million based on consensus gold prices averaging $3,240 per ounce over the life of the mine [1] - The after-tax NPV5% increases to approximately $1.5 billion if the gold price reaches $4,000 per ounce [1]

Core Viewpoint - SSR Mining Inc. (NASDAQ:SSRM) experienced a significant decline in stock price by 10.23% to $19.48 due to a lowered production outlook for full-year 2025, despite reporting strong earnings in Q3 [1][3]. Financial Performance - In Q3, SSR Mining reported a net income attributable to shareholders of $65.4 million, a 523% increase from $10.5 million in the same period last year [4]. - Revenues for the same quarter rose by 50% to $385.8 million, up from $257.3 million year-on-year [4]. Production Outlook - The company expects full-year production to be at the lower end of its previous guidance range of 410,000 to 480,000 gold equivalent ounces [2]. - Consolidated costs are projected to reach the upper end of the guidance range due to higher-than-expected gold prices impacting royalty costs and share-based compensation [3]. Management Commentary - Executive Chairman Rodney Antal stated that Q3 operating results were generally aligned with internal plans and expressed optimism for a solid Q4 to meet 2025 production guidance [5]. - The company highlighted growth opportunities, particularly in Türkiye, with plans to advance operations at Çöpler and the Hod Maden investment decision [6].

Core Insights - SSR Mining reported third-quarter 2025 financial results, falling short of analysts' revenue expectations with sales of $385.8 million compared to the anticipated $400.1 million, leading to a decline in stock price [1][3] - The company provided a lackluster production guidance for the end of 2025, projecting gold equivalent ounces (GEO) production between 410,000 to 480,000, which is slightly above the 399,267 ounces produced in 2024 [4] - SSR Mining's all-in sustaining costs (AISC) for 2025 are projected to be between $2,090 to $2,150 per GEO, higher than the $1,878 reported in 2024, indicating rising cost pressures [5] Financial Performance - SSR Mining's revenue for Q3 2025 was $385.8 million, missing the expected $400.1 million [3] - Adjusted earnings per share met expectations at $0.32 [3] Market Reaction - Following the earnings report, SSR Mining's stock fell by 9%, recovering slightly from an earlier decline of 16.2% [1] Valuation and Investment Outlook - SSR Mining is currently trading at 8.9 times operating cash flow, which is a premium compared to its five-year average cash-flow multiple of 5.9, suggesting it may not be an attractive investment opportunity at this time [6][7] - The company's projected higher costs and lack of strong production guidance further indicate that it may not be the best option for investors seeking exposure to precious metals [6][7]