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]

Core Viewpoint - SSR Mining Inc. anticipates a more than 10% year-over-year increase in gold equivalent ounces (GEO) production, excluding contributions from the Çöpler mine, which is currently on care and maintenance [1] Production Outlook - The company expects GEO production to range between 410,000 to 480,000 ounces in 2025, with 55% of this production occurring in the second half of the year due to operational timing at CC&V and the grade profile at Marigold [2] - The Marigold mine is projected to produce 160,000 to 190,000 ounces of gold, while the Seabee mine is expected to produce 70,000 to 80,000 ounces [4] - Following the acquisition of the CC&V mine, expected gold production from this mine for 2025 is estimated to be between 90,000 to 110,000 ounces [5] Cost Expectations - SSR Mining's consolidated cost of sales for 2025 is anticipated to range between $1,375 and $1,435 per payable ounce, with All-In Sustaining Cost (AISC) expected to be between $2,090 and $2,150 [3] - Excluding care and maintenance costs at Çöpler, the AISC is projected to be between $1,890 and $1,950 per payable ounce, with costs expected to peak during the first and third quarters [3] - The cost of sales for the Marigold mine is expected to be between $1,530 and $1,570 per ounce, while the Seabee mine's cost of sales is anticipated to be between $1,230 and $1,270 per ounce [4] Financial Performance - SSR Mining's shares have surged 113.4% over the past year, contrasting with an 8.6% decline in the industry [6]

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].

SSR Mining Inc. (SSRM) announced that it closed its previously announced acquisition of Cripple Creek & Victor Gold Mine (“CC&V”) from Newmont Corporation (NEM) . The addition of CC&V positions SSR Mining as the third-largest gold producer in the United States.Details on SSR Mining-Newmont DealOn Dec. 6, 2024, the SSRM announced that it had signed a definitive purchase agreement with Newmont.CC&V is located in Colorado and has a large-scale open-pit mine that has been active for more than three decades. As ...

SSR Mining Inc. (NASDAQ:SSRM) Q4 2024 Earnings Conference Call February 18, 2025 5:00 PM ET Company Participants Alex Hunchak - Director, Corporate Development and IR Rod Antal - Executive Chairman Michael Sparks - Chief Financial Officer Bill MacNevin - Executive Vice President, Operations and Sustainability Conference Call Participants Ovais Habib - Scotiabank Cosmos Chiu - CIBC Lawson Winder - Bank of America Securities Operator Hello everyone, and welcome to SSR Mining's Fourth Quarter and Year End 2024 ...

Group 1 - SSR Mining (SSRM) has returned approximately 13.1% year-to-date, outperforming the Basic Materials sector, which has lost an average of 7.1% [4] - SSR Mining is ranked 2 (Buy) in the Zacks Rank system, indicating strong analyst sentiment and an improving earnings outlook [3] - The Zacks Consensus Estimate for SSR Mining's full-year earnings has increased by 141.7% over the past 90 days, reflecting positive revisions [3] Group 2 - SSR Mining belongs to the Mining - Miscellaneous industry, which has seen an average loss of 18.9% this year, further highlighting SSRM's strong performance [5] - Eldorado Gold Corporation (EGO), another stock in the Basic Materials sector, has a year-to-date return of 0.9% and also holds a Zacks Rank of 2 (Buy) [4][5] - The Mining - Gold industry, which includes Eldorado Gold, has increased by 18.7% since the beginning of the year, indicating a contrasting performance compared to SSR Mining's industry [6]

Core Insights - SSR Mining Inc. announced that its Marigold Mine achieved gold production of five million ounces as of December 30, 2024, showcasing the mine's quality and capabilities [1] - The company signed a definitive purchase agreement with Newmont Corporation to acquire the Cripple Creek & Victor Gold Mine, which will enhance SSR Mining's portfolio and increase its average annual gold production to 300,000-400,000 ounces, making it the third-largest gold producer in the U.S. [4][5] Group 1: Marigold Mine Performance - Marigold Mine has been operational for over 35 years and was acquired by SSR Mining in 2014, producing a total of 2 million ounces of gold since then, with a peak production of 278,000 ounces in 2023 [2] - As of December 31, 2023, Marigold Mine had nearly 3 million ounces of Mineral Reserves and an expected operational life of nine years [2] - SSR Mining anticipates $10 million in growth expenditure at the Marigold Mine [2] Group 2: Acquisition and Production Outlook - The acquisition of the Cripple Creek & Victor Gold Mine is expected to add 170,000 ounces of gold to SSR Mining's annual production [5] - Newmont Corporation projects 2024 gold production of 170,000 ounces for CC&V at a cost of sales of $1,270 per ounce and an all-in sustaining cost of $1,610 per ounce, indicating strong free cash flow margins [5] Group 3: Stock Performance and Rankings - SSR Mining's stock has declined by 32.3% over the past year, compared to a 19.1% decline in the industry [6] - SSR Mining currently holds a Zacks Rank 2 (Buy), indicating a favorable outlook [8]

Production and Operations - Third quarter 2024 production was 97,429 gold equivalent ounces, with year-to-date production totaling 275,113 gold equivalent ounces at a consolidated cost of sales of $1,312 per ounce and all-in sustaining costs (AISC) of $1,886 per ounce[13]. - Marigold operations produced 48,189 ounces of gold in Q3 2024, with a full-year production guidance of 155,000 to 175,000 ounces[17]. - Seabee operations produced 10,252 ounces of gold in Q3 2024, with full-year production guidance now set at 65,000 to 70,000 ounces[18]. - Puna operations achieved silver production of 2.9 million ounces in Q3 2024, with full-year production guidance increased to 10.0 to 10.5 million ounces[19]. - The company continues to advance the Hod Maden project, spending approximately $10.9 million in Q3 2024[20]. - The Çöpler mine's operations remain suspended, with a potential restart anticipated within 20 days once necessary regulatory approvals are obtained[9]. - Çöpler produced only 4,714 ounces of gold in Q3 2024, a significant decrease from 56,768 ounces in Q3 2023, with year-to-date production at 26,541 ounces compared to 163,873 ounces last year[29]. - Seabee produced 10,252 ounces of gold in Q3 2024, down 48% from 19,824 ounces in Q3 2023, and year-to-date production was 50,734 ounces compared to 52,020 ounces in the same period last year[25]. - Puna produced 2.9 million ounces of silver in Q3 2024, an increase from 2.6 million ounces in Q3 2023, with year-to-date production at 7.5 million ounces versus 6.9 million ounces last year[27]. Financial Performance - Net income attributable to SSR Mining shareholders in the third quarter of 2024 was $10.6 million, or $0.05 per diluted share, with adjusted net income of $6.4 million, or $0.03 per diluted share[14]. - For the three months ended September 30, 2024, SSR Mining reported revenue of $257,356,000, a decrease of 33.2% from $385,390,000 in 2023[21]. - The cost of sales for the same period was $138,281,000, down 35.6% from $214,670,000 in 2023[21]. - SSR Mining's net income for Q3 2024 was $6,251,000, compared to a net loss of $7,245,000 in Q3 2023[21]. - Cash provided by operating activities before changes in working capital was $13,898,000 in Q3 2024, compared to $141,892,000 in Q3 2023[21]. - The company reported a net income (loss) attributable to shareholders of $(266.8) million for the nine months ended September 30, 2024, compared to $123.5 million for the same period in 2023[52]. - Free cash flow for the three months ended September 30, 2024, is reported at $(34.1) million, while for the same period in 2023, it was $87.8 million[54]. - Cash provided by operating activities for the three months ended September 2024 was $(1,349) thousand, compared to $135,256 thousand for the same period in 2023[55]. - Cash provided by operating activities before changes in working capital (non-GAAP) for the nine months ended September 2024 was $22,772 thousand, down from $336,235 thousand for the same period in 2023[55]. Costs and Expenditures - The company incurred $29.8 million in care and maintenance costs at Çöpler during Q3 2024[14]. - The expected mine site cost of sales for Marigold in 2024 is projected to be between $1,450 and $1,480 per payable ounce[24]. - AISC for Marigold is anticipated to be between $1,650 and $1,680 per payable ounce in 2024, with increased costs attributed to higher royalty costs and maintenance[24]. - Full-year 2024 production guidance for Seabee is now 65,000 to 70,000 ounces of gold, with mine site cost of sales projected at $1,135 to $1,165 per payable ounce and AISC at $1,725 to $1,755 per payable ounce[26]. - Full-year 2024 production guidance for Puna has been increased to 10.0 to 10.5 million ounces of silver, with unchanged mine site cost of sales of $16.50 to $18.00 per payable ounce and AISC of $14.75 to $16.25 per payable ounce[28]. - During Q3 2024, Seabee reported a cost of sales of $1,280 per payable ounce and AISC of $2,301 per payable ounce, reflecting $7.7 million in care and maintenance expenses during a temporary suspension of operations[25]. - Puna's AISC for Q3 2024 was $15.37 per payable ounce, with a cost of sales of $16.06 per payable ounce, showing a year-over-year increase in efficiency[27]. - Total cost of sales (GAAP) for the nine months ended September 30, 2024, was $360,764,000, compared to $584,607,000 for the same period in 2023, representing a decrease of approximately 38.3%[47]. - Cash costs (non-GAAP) for the nine months ended September 30, 2024, totaled $329,472,000, down from $554,876,000 in 2023, indicating a reduction of about 40.7%[47]. - Total AISC (non-GAAP) for the nine months ended September 30, 2024, was $518,621,000, compared to $755,459,000 in 2023, reflecting a decrease of approximately 31.4%[47]. Liquidity and Debt - As of September 30, 2024, the company had a cash and cash equivalent balance of $334.3 million and total liquidity of $834.0 million[15]. - As of September 30, 2024, total cash was $334,341,000, a decrease from $492,494,000 as of December 31, 2023, representing a decline of approximately 32%[39]. - The company's total debt as of September 30, 2024, was $230,000,000, unchanged from December 31, 2023, while net cash (debt) decreased to $104,341,000 from $261,574,000, a reduction of about 60%[39]. - Total liquidity, including cash and cash equivalents, restricted cash, and borrowing capacity, was $834,341,000 as of September 30, 2024, down from $992,494,000 at the end of 2023, indicating a decrease of approximately 16%[40]. - The company has a $400 million credit facility that remains undrawn, with an additional $100 million accordion feature available[39]. Risks and Forward-Looking Statements - Key risks include local and global political and economic conditions, regulatory changes, and potential impacts from global pandemics on mining operations[33]. - Forward-looking statements regarding production timelines, operational targets, and financial outlooks are subject to various risks and uncertainties that could materially affect actual results[34]. - The company does not intend to update forward-looking information unless required by law, highlighting the speculative nature of such statements[36]. General and Administrative Expenses - General and administrative expenses totaled $17,564,000, which includes stock-based compensation[46]. - General and administrative expenses for the nine months ended September 30, 2024, totaled $48,139,000, down from $52,366,000 in 2023, indicating a reduction of about 8.7%[47].

Core Viewpoint - SSR Mining Inc. is expected to report a significant year-over-year decline in earnings for the third quarter of 2024, with an estimated earnings per share of 15 cents, reflecting a 42% drop from the same quarter in 2023 [1][4]. Earnings Estimates - The Zacks Consensus Estimate for SSR Mining's third-quarter earnings is 15 cents per share, down 28.57% over the past 60 days [1]. - The earnings surprise history shows that SSR Mining has beaten estimates in three of the last four quarters, with an average surprise of 202.55% [4][5]. Production Challenges - A major incident at the Çöpler mine on February 13, 2024, led to a suspension of operations, which significantly impacted production as Çöpler contributed approximately 31% of total production in 2023 [8]. - SSR Mining produced 177,691 gold equivalent ounces in the first half of 2024, a 41% decrease from 303,518 ounces in the first half of 2023, primarily due to a 79.6% drop at Çöpler [9]. - Operations at the Seabee mine were also suspended due to forest fires, which contributed around 15% of gold production in 2023 [10]. Future Production Guidance - SSR Mining is expected to revise its production and cost guidance for Seabee during the upcoming earnings call, with prior guidance set at 75,000-85,000 ounces of gold [11]. - Marigold is projected to produce 155,000-175,000 ounces of gold in 2024, down from 278,488 ounces in 2023, while Puna aims for 8.75-9.50 million ounces of silver, lower than 9.69 million ounces produced in 2023 [11][12]. Market Conditions - Gold prices averaged $2,491 per ounce in the third quarter, a 29% increase year-over-year, driven by expectations of interest rate cuts and geopolitical tensions [13]. - Despite higher gold prices, the anticipated lower production is expected to offset gains in SSR Mining's third-quarter performance [14]. Stock Performance and Valuation - SSR Mining's stock has declined 50.7% year-to-date, contrasting with a 1.7% decline in the industry and gains of 9% and 31.6% in the Zacks Basic Materials sector and S&P 500, respectively [15]. - The stock is trading at a 12-month forward price-to-earnings ratio of 19.62, significantly higher than the industry average of 12.88 [15][16]. Investment Outlook - SSR Mining is well-positioned with strong cash flow and low debt, allowing for investment in high-quality assets, with expectations of increased production at Marigold by 2027 [17]. - Gold prices have risen 33% year-to-date, currently at $2,740 per ounce, indicating a favorable environment for the company [18]. - Investors are advised to hold existing shares due to solid long-term fundamentals, while new investors may consider waiting for a better entry point given the current premium valuation [19].

SSR Mining Inc. (SSRM) has plunged 39.3% year to date against the industry’s decline of 10.7%. Meanwhile, the Zacks Basic Materials sector and the S&P 500 have gained 2.2% and 22.7%, respectively.The SSRM stock was dealt a significant blow by a major slip on the heap leach pad at the Çöpler mine on Feb. 13, 2024. Therefore, operations had to be suspended. This incident led to a 54% plunge in its share price in a day. Even though SSRM stock has picked up gradually, it has not resumed the pre-Çöplerincident p ...