Ssr Mining Inc. (SSRM)

Price$37.15Cached quoteAs of 2026-09-05 09:52 UTC

AI: Fair-priced

Price checkShares trade at about 19 times earnings based on full year profits.

Based on the verified market value and SEC-derived FY 2025 net income, the shares trade at about 19.2 times earnings. This multiple is higher than typical cyclical miners but reflects the company's strong cash generation and recent strategic shift away from loss-making assets. The price implies confidence in future stability, yet the recent earnings miss suggests some uncertainty remains about sustaining these high margins without further operational hiccups.

Big pictureThe company generated strong profits after selling a struggling mine in Turkey.

SSR Mining reported FY 2025 net income of $395.75 million, a significant recovery from prior years. This improvement stems largely from exiting the Çöpler Mine in Turkey, which had been a drag on performance. Revenue grew to $1.6 billion, driven by operations in the Americas. The balance sheet is healthy with $534.8 million in cash and manageable debt, positioning the firm to fund growth or return capital to shareholders without needing to raise expensive money.

Business strengthCash flow is robust and the company is returning money to owners.

Operating cash flow reached $471.8 million in FY 2025, demonstrating the ability to generate real liquidity. Management has signaled confidence by reinstating a quarterly dividend and announcing a $500 million share buyback program. These actions indicate that the board believes the business can sustain payouts. The focus on Americas assets reduces geopolitical risk, and the low debt load of roughly $228 million provides a safety cushion against commodity price swings.

What could change the storyGold prices and operational issues in the Americas could hurt profits.

The current valuation assumes gold and copper prices remain stable or rise. A significant drop in commodity prices would immediately compress margins and lower the stock's value. Additionally, while the Turkey exit was positive, any major operational disruption in the Americas mines could reverse the earnings recovery. The recent Q2 2026 earnings miss highlights that even with a cleaner balance sheet, execution risks remain a key variable for investors to watch closely.

AI: News

SSR Mining Sells Turkey MineThe company completed the sale of its Çöpler Mine in June.

On June 24, 2026, SSR Mining announced the completion of the sale of the Çöpler Mine in Turkey. This move removes a significant operational and financial drag from the portfolio. The transaction provides immediate cash inflow and eliminates the need to manage a complex, underperforming asset. Investors view this as a strategic pivot toward higher-quality, lower-risk assets in the Americas, which supports the long-term earnings stability thesis despite the high valuation multiple.

SSR Mining Announces BuybackThe board approved a new $500 million share repurchase program.

In May 2026, SSR Mining announced an additional $500 million share buyback program alongside the reinstatement of its quarterly dividend. This capital allocation strategy signals management's belief that the stock is undervalued relative to its intrinsic worth. The buyback reduces the share count, potentially boosting earnings per share in future quarters. Combined with the strong cash position, this demonstrates a commitment to returning value to shareholders while maintaining financial flexibility.

SSR Mining Misses EarningsSecond quarter profits came in lower than analysts expected.

On August 3, 2026, SSR Mining reported Q2 2026 earnings that missed analyst expectations, with EPS of $0.66 versus a forecast of $0.80. While the full year outlook remains positive, this miss highlights the volatility inherent in the mining sector. The company also declared a quarterly cash dividend of $0.03 per share. The miss suggests that while the strategic shift is underway, operational headwinds or cost pressures may still impact short-term profitability.

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Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$1.60B	$987.0M	$1.42B	$1.15B	$1.47B	$853.1M	$606.9M	$420.7M	$448.8M	$491.0M
Gross profit	$949.9M	$473.0M	$611.3M	$540.1M	$802.8M	$308.6M	$170.9M	$76.8M	$113.3M	$154.0M
Gross margin	59.25%	47.92%	43.19%	47.04%	54.46%	36.18%	28.16%	18.27%	25.24%	31.37%
Operating expenses	$488.5M	$795.3M	$741.5M	$349.8M	$358.4M	$120.4M	$52.5M	$47.0M	$11.9M	$41.4M
Operating income	$461.4M	−$322.3M	−$130.2M	$190.3M	$444.4M	$188.3M	$118.4M	$29.9M	$101.3M	$112.6M
Operating margin	28.78%	−32.65%	−9.20%	16.57%	30.14%	22.07%	19.51%	7.11%	22.58%	22.93%
EBITDA	$577.6M	−$192.1M	$83.8M	$371.7M	$672.3M	$297.5M	$204.0M	$30.1M	$101.5M	$112.9M
EBITDA margin	36.03%	−19.46%	5.92%	32.38%	45.61%	34.88%	33.62%	7.15%	22.62%	22.99%
Net income	$395.8M	−$261.3M	−$98.0M	$194.1M	$368.1M	$151.5M	$102.8M	−$31,000	$71.5M	$65.0M
Net profit margin	24.69%	−26.47%	−6.92%	16.91%	24.97%	17.76%	16.94%	−0.01%	15.92%	13.23%
Basic EPSper basic share	$1.95	-$1.29	-$0.48	$0.92	$1.70	$1.00	$0.84	$0.05	$0.58	$0.63
Diluted EPSper diluted share	$1.85	-$1.29	-$0.48	$0.89	$1.63	$0.96	$0.78	$0.05	$0.57	$0.62