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]

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]