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]

Core Points - U.S. stock futures are lower, with Dow futures falling over 50 points [1] - Super Micro Computer Inc reported disappointing first-quarter results, with earnings of 35 cents per share, missing the consensus estimate of 40 cents, and revenue of $5.01 billion, below the expected $5.99 billion [2] - Super Micro's revenue decreased from $5.93 billion in the same period last year [2] - The company's shares fell 9.2% to $43.12 in pre-market trading [2] Company-Specific Movements - Biohaven Ltd experienced a significant drop of 46.2% to $7.51 after receiving an FDA Complete Response Letter for VYGLXIA [4] - Trex Company Inc declined 31.9% to $32.02 following worse-than-expected third-quarter results and lowered FY25 sales guidance [4] - Soleno Therapeutics Inc fell 22.2% to $49.65 after reporting third-quarter results [4] - Axon Enterprise Inc's shares dropped 19.6% to $567.50 after mixed third-quarter results and an acquisition announcement [4] - Pinterest Inc dipped 18.8% to $26.69 after posting disappointing third-quarter earnings [4] - SSR Mining Inc fell 17.5% to $17.90 after its third-quarter results [4] - Uniqure NV's shares decreased by 15.8% to $25.61 after a prior gain [4] - Clover Health Investments Corp fell 15.5% to $2.97 after mixed third-quarter results [4] - Upstart Holdings Inc declined 15.3% to $39.15 after mixed results and lowered FY25 guidance [4] - Corsair Gaming Inc fell 12.4% to $6.59 following worse-than-expected third-quarter results [4] - Advanced Micro Devices, Inc. declined 5% to $237.80 despite reporting better-than-expected third-quarter results and projecting fourth-quarter revenue of approximately $9.6 billion [4]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - SMX (Security Matters) Public Limited Company (SMX) increased by 52% to $2.24 [3] - Entravision Communications Corporation (EVC) rose by 33% to $2.66 [3] - Babcock & Wilcox Enterprises, Inc. (BW) saw a 28% increase to $4.79 [3] - NeuroPace, Inc. (NPCE) gained 24% reaching $11.71 [3] - Kennedy-Wilson Holdings, Inc. (KW) also increased by 24% to $9.30 [3] - Rigel Pharmaceuticals, Inc. (RIGL) rose by 22% to $34.72 [3] - Digital Turbine, Inc. (APPS) increased by 21% to $7.20 [3] - Lumentum Holdings Inc. (LITE) saw a 15% increase to $218.06 [3] - AsiaStrategy (SORA) rose by 14% to $3.63 [3] - Marine Petroleum Trust (MARPS) increased by 7% to $5.05 [3] Premarket Losers - Biohaven Ltd. (BHVN) decreased by 42% to $7.96 [4] - Trex Company, Inc. (TREX) fell by 34% to $30.65 [4] - Soleno Therapeutics, Inc. (SLNO) saw a 23% decline to $49.00 [4] - Axon Enterprise, Inc. (AXON) decreased by 19% to $572.00 [4] - Clover Health Investments, Corp. (CLOV) fell by 19% to $2.82 [4] - Pinterest, Inc. (PINS) decreased by 18% to $26.91 [4] - SSR Mining Inc. (SSRM) saw a 17% decline to $17.91 [4] - Upstart Holdings, Inc. (UPST) decreased by 16% to $38.81 [4] - WF International Limited (WXM) fell by 12% to $2.25 [4] - Corsair Gaming, Inc. (CRSR) decreased by 11% to $6.66 [4]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Financial Data and Key Metrics Changes - In Q3, the company produced 103,000 gold equivalent ounces at an all-in sustaining cost (AISC) of $2,359 per ounce, with a full-year production of 327,000 gold equivalent ounces expected to finish within the guidance range of 410,000-480,000 ounces [8][9] - The net income attributable to shareholders was $65.4 million, or $0.31 per diluted share, while adjusted net income was $68.4 million, or $0.32 per diluted share [9][10] - Free cash flow before changes in working capital was $72 million, indicating strong margins despite ongoing investments [10] Business Line Data and Key Metrics Changes - Marigold produced 36,000 ounces of gold at an AISC of $1,840 per ounce, with expectations for a strong Q4 [11] - CC&V produced 30,000 ounces of gold at an AISC of $1,756 per ounce, generating nearly $115 million in asset-level free cash flow since acquisition [13] - Seabee produced 9,000 ounces at an AISC of $3,003 per ounce, with expectations for incremental improvement in Q4 [14] - Puna produced 2.4 million ounces of silver at an AISC of $1,354 per ounce, continuing solid performance [15] Market Data and Key Metrics Changes - The average realized gold price was above $3,500 per ounce for the quarter [9] - The company ended the quarter with $409 million in cash and total liquidity exceeding $900 million, ensuring capacity to fund growth initiatives [8][9] Company Strategy and Development Direction - The company is focused on advancing organic development projects and is optimistic about the potential of Hod Maden, which is considered one of the most compelling undeveloped copper-gold projects in the sector [5][16] - The company is committed to a restart at Çöpler and is in close communication with government authorities for approvals [7][28] - The strategy remains focused on building core jurisdictions and seeking value-accretive opportunities through M&A [44] Management's Comments on Operating Environment and Future Outlook - Management expects a stronger Q4, primarily driven by Marigold and CC&V, despite challenges faced in Q3 [20] - The company is making good progress on key projects and is well-positioned for a strong close to the year [17] - There is a noted increase in public support for the reopening of Çöpler, which may aid in regulatory discussions [28] Other Important Information - The Cripple Creek and Victor technical report is expected to be published soon, providing insights into mineral reserves and expansion potential [5] - The company has spent $44 million on Hod Maden this year and remains on track for full-year growth capital guidance of $60-$100 million [5][16] Q&A Session Summary Question: Expectations for Q4 and production spillover from Marigold - Management confirmed that Q4 strength is expected from Marigold and discussed strategies for handling fines encountered at Red Dot [20][21] Question: Clarification on lower grades at Seabee - Management explained that lower grades were due to increased material from the gap hanging wall, which was lower than expected [24] Question: Update on Çöpler and community support - Management detailed ongoing discussions with regulators and noted increased public support for reopening, which may help but is not the primary driver for regulatory approval [28] Question: Guidance and spending at Hod Maden - Management indicated that spending at Hod Maden is on track to meet guidance and emphasized the importance of the upcoming technical report for project approval [35][42] Question: Strategy for growth and M&A - Management reiterated a consistent strategy focused on organic growth and selective M&A opportunities, emphasizing the importance of due diligence [44]

Financial Data and Key Metrics Changes - In Q3, the company produced 103,000 gold equivalent ounces at an all-in sustaining cost (AISC) of $2,359 per ounce, with a full-year production target of 410,000-480,000 gold equivalent ounces, expected to finish in the lower half of that range [8][9] - The net income attributable to shareholders was $65.4 million, or $0.31 per diluted share, while adjusted net income was $68.4 million, or $0.32 per diluted share [9][10] - Free cash flow before changes in working capital was $72 million, indicating strong margins despite ongoing investments [10] Business Line Data and Key Metrics Changes - Marigold produced 36,000 ounces of gold at an AISC of $1,840 per ounce, with expectations for a strong Q4 [11] - CC&V produced 30,000 ounces of gold at an AISC of $1,756 per ounce, generating nearly $115 million in asset-level free cash flow since acquisition [13] - Seabee faced challenges with production of 9,000 ounces at an AISC of $3,003 per ounce, attributed to lower-than-expected grades [14] Market Data and Key Metrics Changes - The average realized gold price was above $3,500 per ounce for the quarter [9] - Puna produced 2.4 million ounces of silver at an AISC of $1,354 per ounce, continuing its solid performance [15] Company Strategy and Development Direction - The company is focused on advancing organic development projects, including Hod Maden, Buffalo Valley, and others, with a strong emphasis on growth initiatives [5][6] - The upcoming technical reports for Cripple Creek and Victor, as well as Hod Maden, are expected to showcase the potential and upside of these assets [17] - The company is committed to a restart at Çöpler and is in close communication with government authorities for approvals [7][28] Management's Comments on Operating Environment and Future Outlook - Management expects a stronger Q4, primarily driven by Marigold and CC&V, despite challenges faced in Q3 [20] - The company is optimistic about the potential of Hod Maden, viewing it as one of the most compelling undeveloped copper-gold projects in the sector [5][16] - There is a noted increase in public support for the reopening of Çöpler, which may aid in regulatory discussions [28] Other Important Information - The company maintains a strong financial position with $409 million in cash and total liquidity exceeding $900 million [8][9] - The technical report for Hod Maden is expected to form the basis for a construction decision in the coming months [5][16] Q&A Session Summary Question: Expectations for Q4 and production spillover from Marigold - Management confirmed that Q4 strength is expected from Marigold and discussed handling fines encountered at Red Dot [20][21] Question: Clarification on lower grades at Seabee - Management explained that lower grades were due to increased material from the gap hanging wall, which came in at lower grades than expected [24] Question: Update on Çöpler and community support - Management detailed ongoing discussions with regulators and noted increased public support for reopening, which may help but is not the primary driver for regulatory approval [28] Question: Guidance for Hod Maden and potential carryover into 2026 - Management indicated that spending at Hod Maden is on track and that they expect to be closer to the midpoint of the guidance range [35][36] Question: Connection between Hod Maden and Çöpler decisions - Management clarified that the decisions regarding Hod Maden and Çöpler are treated as mutually exclusive, with no dependency between the two [42] Question: Strategy for growth and M&A - Management reiterated a consistent strategy focused on organic growth and selective M&A opportunities that fit within established criteria [44][45]

Financial Data and Key Metrics Changes - In Q3 2025, the company produced 103,000 gold equivalent ounces at an all-in sustaining cost (AISC) of $2,359 per ounce, with a full-year production target of 410,000-480,000 gold equivalent ounces, expected to finish in the lower half of that range [8][9] - The net income attributable to shareholders was $65.4 million, or $0.31 per diluted share, while adjusted net income was $68.4 million, or $0.32 per diluted share [10] - Free cash flow before changes in working capital was $72 million, indicating strong margins despite ongoing investments in growth initiatives [11] Business Line Data and Key Metrics Changes - Marigold produced 36,000 ounces of gold at an AISC of $1,840 per ounce, with expectations for a strong Q4, although slightly below initial expectations [12] - CC&V produced 30,000 ounces of gold at an AISC of $1,756 per ounce, generating nearly $115 million in asset-level free cash flow since acquisition [14] - Seabee faced challenges with production of 9,000 ounces at an AISC of $3,003 per ounce, attributed to lower-than-expected grades and a focus on underground development [15] Market Data and Key Metrics Changes - The average realized gold price was above $3,500 per ounce for the quarter, contributing to the financial performance [10] - The company ended the quarter with $409 million in cash and total liquidity exceeding $900 million, ensuring capacity to fund growth initiatives [9] Company Strategy and Development Direction - The company is focused on advancing organic development projects, including Hod Maden, Buffalo Valley, and others, with a strong emphasis on project updates and technical reports [5][18] - The company aims to showcase the potential of key assets like Cripple Creek and Hod Maden, with upcoming technical reports expected to highlight their upside potential [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a stronger Q4, primarily driven by Marigold and CC&V, while addressing challenges with ore blending at Marigold [22] - Discussions with regulatory bodies regarding the restart of Çöpler are ongoing, with increased public support for reopening noted [30] Other Important Information - The company has spent $44 million on advancing Hod Maden this year and remains on track for full-year growth capital guidance of $60-$100 million [5][18] - The technical report for Cripple Creek and Victor is expected to be published soon, providing insights into mineral reserves and potential expansions [5] Q&A Session Summary Question: Expectations for Q4 performance - Management confirmed that Q4 strength is expected to come primarily from Marigold and CC&V, with adjustments being made to handle ore blending challenges [22][23] Question: Clarification on Seabee's lower grades - Management explained that lower grades were due to an increased proportion of material from the gap hanging wall, which came in at lower grades than expected [26] Question: Update on Çöpler's regulatory discussions - Management indicated ongoing discussions with regulators, focusing on technical aspects for approval, with increased public support for reopening noted [30] Question: Guidance for Hod Maden and potential carryover into 2026 - Management reassured that spending at Hod Maden is on track, with expectations to meet the midpoint of the guidance range [36][37] Question: Strategy regarding M&A and growth opportunities - Management reiterated a consistent strategy focused on organic growth and selective M&A opportunities that fit within established criteria [46][47]

Financial Performance - Revenue for Q3 2025 was $385.8 million, compared to $257.4 million in Q3 2024[18] - Net income attributable to SSRM shareholders was $65.4 million ($0.32/$0.31 per share basic/diluted) in Q3 2025, compared to $10.6 million ($0.05/$0.05 per share basic/diluted) in Q3 2024[18] - Adjusted net income attributable to SSRM shareholders was $68.4 million ($0.34/$0.32 per share basic/diluted) in Q3 2025, compared to $6.4 million ($0.03/$0.03 per share basic/diluted) in Q3 2024[18] - Operating cash flow before working capital adjustments was $132.1 million in Q3 2025, compared to $13.8 million in Q3 2024[18] - Free cash flow was negative $2.4 million in Q3 2025, compared to negative $34.1 million in Q3 2024[18] - Free cash flow before working capital changes was $72.5 million in Q3 2025, compared to negative $18.9 million in Q3 2024[18] Liquidity and Balance Sheet - The company had a total liquidity of approximately $909.3 million as of September 30, 2025, including an undrawn $400 million revolving credit facility and a $100 million accordion feature[11, 15] - Cash and cash equivalents totaled $409.3 million, with a net cash position of $179.3 million as of September 30, 2025[15] Operational Highlights - Consolidated gold equivalent production was 102,673 ounces at a cost of sales of $1,585/oz and AISC of $2,359/oz ($2,114/oz excluding Çöpler)[15] - Marigold produced 36,273 ounces of gold at a cost of sales of $1,673/oz and AISC of $1,840/oz in Q3 2025[15, 26] - CC&V produced 29,821 ounces of gold at a cost of sales of $1,394/oz and AISC of $1,756/oz in Q3 2025[15, 30] - Puna produced 2.4 million ounces of silver at a cost of sales of $16.80/oz and AISC of $13.54/oz in Q3 2025[15, 38]

Production and Sales - Third quarter 2025 production was 102,673 gold equivalent ounces with a cost of sales of $1,585 per payable ounce and all-in sustaining costs (AISC) of $2,359 per payable ounce[1] - Year-to-date production reached 326,940 gold equivalent ounces at a cost of sales of $1,430 per payable ounce and AISC of $2,131 per payable ounce[1] - For the three months ended September 30, 2025, the company produced 29,821 ounces of gold, with a total year-to-date production of 113,165 ounces since the CC&V acquisition[9] - Seabee produced 9,118 ounces of gold in Q3 2025, down from 10,252 ounces in Q3 2024, with year-to-date production of 46,117 ounces compared to 50,734 ounces in the same period last year[11] - Puna produced 2,409,000 ounces of silver in Q3 2025, a decrease from 2,885,000 ounces in Q3 2024, with year-to-date production of 7,764,000 ounces compared to 7,531,000 ounces last year[13] - Gold sold during the three months ended September 30, 2025, was 74,268 ounces, a decrease from 63,052 ounces sold in the same period of 2024[38] - Silver sold during the three months ended September 30, 2025, reached 2,656,819 ounces, compared to 2,785,411 ounces in the prior year[38] - The company sold 7,565,557 ounces of silver during the nine months ended September 30, 2025, compared to 6,933,096 ounces in the same period of 2024, representing a growth of 9%[39] Financial Performance - Net income attributable to SSR Mining shareholders for Q3 2025 was $65.4 million, or $0.31 per diluted share, with adjusted net income of $68.4 million, or $0.32 per diluted share[1] - SSR Mining's total revenue for Q3 2025 was $385.8 million, up from $257.4 million in Q3 2024[5] - The company reported a diluted net income per share of $0.31 for the three months ended September 30, 2025, compared to $0.05 in the same period of 2024[41] - For the nine months ended September 30, 2025, SSR Mining's adjusted net income per diluted share was $1.12, a significant increase from $0.18 in the prior year[41] - The company experienced a free cash flow of $(2.4) million for the three months ended September 30, 2025, compared to $(34.1) million in the same period of 2024[46] - Cash provided by operating activities before changes in working capital for the nine months ended September 30, 2025, was $433.0 million, up from $22.8 million in the same period of 2024[47] Costs and Expenses - The average realized gold price for Q3 2025 was $3,503 per ounce sold, compared to $2,531 in Q3 2024[5] - Seabee reported a cost of sales of $2,185 per payable ounce in Q3 2025, significantly higher than $1,280 in Q3 2024[11] - The all-in sustaining cost (AISC) for CC&V was $1,756 per ounce sold in Q3 2025, compared to $1,536 in the previous year[9] - AISC for Seabee was reported at $3,003 per ounce sold in Q3 2025, up from $2,301 in Q3 2024[11] - Total cash costs (non-GAAP) are expected to range from $554 million to $679 million[37] - All-in sustaining costs (AISC) are projected to be between $786 million and $921 million[37] - Cost of sales (GAAP) is anticipated to be between $563 million and $689 million[37] - Cash cost per ounce (non-GAAP) is expected to be between $1,350 and $1,410[37] - All-in sustaining cost per ounce (non-GAAP) is projected to be between $1,890 and $1,950[37] - Total cost of sales (GAAP) for the three months ended September 30, 2025, was $165,682,000, a decrease from $138,281,000 in the same period of 2024[38] - Cash costs (non-GAAP) for the three months ended September 30, 2025, totaled $151,466,000, compared to $126,185,000 in the prior year, reflecting an increase of approximately 20%[38] - Total AISC (non-GAAP) for the three months ended September 30, 2025, was $246,622,000, up from $198,547,000 in the same period of 2024, indicating a year-over-year increase of about 24%[38] - The cost of sales per gold ounce sold for the nine months ended September 30, 2025, was $1,430, compared to $1,028 for the same period in 2024, reflecting a 39% increase[39] - The cash cost per gold equivalent ounce sold for the nine months ended September 30, 2025, was $1,312, compared to $1,198 in 2024, indicating a 10% increase[39] Liquidity and Capital Expenditures - As of September 30, 2025, SSR Mining had cash and cash equivalents of $409.3 million and total liquidity of $909.3 million[1] - The company spent $17.1 million on Hod Maden in Q3 2025, with total year-to-date spending of $44.4 million, and expects full-year development capital spend of $60 to $100 million[1] - The company's net cash position improved to $179.3 million as of September 30, 2025, compared to $157.9 million at the end of 2024[31] - Total liquidity reached $909.3 million as of September 30, 2025, up from $887.9 million at the end of 2024[32] - The company has a borrowing capacity of $400 million on its credit facility, with an additional $100 million accordion feature available[32] Operational Updates and Future Outlook - SSR Mining is advancing key brownfield growth projects, including Buffalo Valley at Marigold and Cortaderas at Puna, which are expected to extend mine life at each operation[1] - The company remains committed to restarting operations at the Çöpler mine but cannot currently estimate when operations will resume[1] - The company continues to work closely with authorities in Türkiye to advance the restart of the Çöpler mine, which has been suspended since February 2024[15] - Gold production guidance for 2025 is projected to be between 320,000 and 380,000 ounces[37] - Silver production guidance for 2025 is estimated at 8.00 to 8.75 million ounces[37] - A technical report for CC&V is on track for publication in 2025[9] - Future production and operational targets are contingent on various factors, including regulatory approvals and market conditions[25] Shareholder and Community Relations - The company emphasizes the importance of cash costs and AISC for assessing operating profitability and cost structure[34] - The company is focused on maintaining community and government relations as part of its operational strategy[24] - Forward-looking statements indicate potential risks related to global economic conditions and regulatory changes that may impact operations[23]

DENVER--(BUSINESS WIRE)--SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the "Company") reports consolidated financial results for the third quarter ended September 30, 2025. Operating results: Third quarter 2025 production was 102,673 gold equivalent ounces at cost of sales of $1,585 per payable ounce and all-in sustaining costs ("AISC†) of $2,359 per payable ounce, or $2,114 per payable ounce exclusive of costs incurred at Çöpler in the quarter.(1) Year-to-date, the Company produced 326,9. ...