The Big Gold Bet: Virtus Advisers Loads Up on SSR Mining Stock

Company Overview - SSR Mining is a diversified precious metals producer with a global footprint, focusing on the exploration, development, and operation of gold and silver mines [2] - The company operates a vertically integrated mining model, controlling multiple stages from acquisition to metal sales [3][9] - SSR Mining's major projects are located in Turkey, the U.S., Canada, and Argentina, generating the majority of revenue from precious metals production [4][6] Financial Performance - In 2025, SSR Mining's stock closed the year with nearly 215% gains, with shares priced at $21.19 as of November 13, 2025, reflecting a 294.6% increase over the year [1][4] - The stock's one-year alpha versus the S&P 500 is 285.7 percentage points, indicating significant outperformance [4] Strategic Moves - The acquisition of the Cripple Creek & Victor (CC&V) mine in Colorado from Newmont in early 2025 significantly expanded SSR Mining's portfolio, positioning it as the third-largest gold producer in the U.S. [6] - This strategic move also aimed to reduce geopolitical risks by diversifying operations beyond Turkey [6] Market Dynamics - Gold prices surged over 70% in 2025, reaching record highs in December, which contributed to the rally in SSR Mining's stock [1][7] - The future performance of SSR Mining's stock may largely depend on gold price trends; further increases in gold prices could lead to continued stock growth [7] Investment Activity - Virtus Advisers disclosed a new position in SSR Mining, acquiring 216,217 shares valued at nearly $6.91 million as of September 30, 2025, making it one of the top holdings in their portfolio [5]