# SSR Mining Inc. (SSRM)

> Source: Nexqual · https://nexqual.com/SSRM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SSR Mining Inc. (SSRM), nexqual.com/SSRM" · informational, not investment advice.

**Price:** USD 29.2 (-7.18% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 31.46 · day 29.07–30.1 · 52w 18.19–39.44 · market cap $5.95B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.93B, net income $238M (12.3% margin), free cash flow $352M (SEC filings).
- Valuation: P/E 25.0x (avg 12.0x at the last 1 fiscal year-ends).
- Analysts: Buy (mean 1.63 on a 1–5 scale) (8 analysts), mean target USD 41 (range 39–43).
- Total return with dividends: 1Y +27.0% vs S&P 500 +14.9%; 5Y +86.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 0.68, revenue estimate $446M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.47B | $1.15B | $1.43B | $996M | $1.63B | $1.93B |
| Gross profit | $803M | — | — | — | — | — |
| Operating income | $444M | $190M | -$130M | -$322M | $461M | $778M |
| Net income | $368M | $194M | -$98.0M | -$261M | $396M | $238M |
| EPS (diluted) | $1.63 | $0.89 | -$0.48 | -$1.29 | $1.85 | — |
| Free cash flow | $444M | $23.4M | $198M | -$103M | $242M | $352M |
| Gross margin | 54.5% | — | — | — | — | — |
| Operating margin | 30.1% | 16.6% | -9.1% | -32.4% | 28.3% | 40.2% |
| Net margin | 25.0% | 16.9% | -6.9% | -26.2% | 24.3% | 12.3% |
| Revenue growth | +72.8% | -22.1% | +24.3% | -30.2% | +63.7% | — |
| Cash + short-term investments | $1.06B | $696M | $513M | $417M | $556M | — |
| Total debt | $367M | $298M | $228M | $240M | $281M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 25.0x · P/S 3.1x · P/FCF 16.9x · P/B 1.8x · FCF yield 5.91% · Earnings yield 3.99%
P/E at fiscal year-ends: Dec 2025 12.0x.

## Analysts
Consensus Buy (mean 1.63 on a 1–5 scale), 8 analysts; mean target USD 41 (low 39, high 43).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | UBS | Target lowered | Buy | $41 → $39 |
| 2026-10-05 | CIBC | Target raised | Outperformer | $48 → $50 |
| 2026-09-16 | RBC Capital | Target raised | Outperform | $39 → $43 |
| 2026-07-09 | RBC Capital | Target lowered | Outperform | $40 → $39 |
| 2026-07-09 | B of A Securities | Target lowered | Buy | $41 → $40 |
| 2026-07-01 | UBS | Target lowered | Buy | $40 → $39 |
| 2026-06-30 | UBS | Target lowered | Buy | $43 → $40 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +27.0% | +86.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +27.1% | +13.2% |
| Volatility (annualized) | 68.6% | 58.4% |
| Max drawdown | -31.3% (May 2026→Jun 2026) | -82.9% (Apr 2022→Mar 2024) |

## Peers (Gold)
OR (OR Royalties Inc.) USD 33.33 -4.25% · BTG (B2Gold Corp) USD 4.87 -7.24% · OGC (OceanaGold Corporation) USD 25.27 -5.53% · AUGO (Aura Minerals Inc.) USD 78.55 -7.93% · EGO (Eldorado Gold Corporation) USD 32.91 -5.86% · CGAU (Centerra Gold Inc.) USD 20.5 -6.99%

## More
Full page: https://nexqual.com/SSRM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name SSRM in their own reports (relationship from SSRM's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | NEWMONT Corp /DE/ (NEM) | 10-K 2026-02-19 | "Under the terms of the agreement with SSR, Newmont expects to receive deferred cash contingent consideration upon certain regulatory approvals, including the resolution of regulatory applications rela…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| CC&V | $129.1M | 29.1% | -13.9% | $75.0M | 58.1% |
| Marigold | $127.4M | 28.7% | +7.2% | $58.2M | 45.7% |
| Puna | $122.0M | 27.5% | +19.4% | $67.3M | 55.2% |
| Seabee | $65.3M | 14.7% | +89.1% | $24.1M | 36.9% |
| Total revenue | $443.8M | 100% | — | $224.6M | 50.6% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Gold | $317.9M | 71.6% | +5.0% |
| Gold sales | $127.3M | 28.7% | +7.2% |
| Concentrate sales | $119.3M | 26.9% | +19.1% |
| Silver | $109.6M | 24.7% | +25.7% |
| Lead | $8.3M | 1.9% | -27.7% |
| Other | $6.6M | 1.5% | +159.3% |
| Zinc | $1.4M | 0.3% | -7.3% |
| Other | $63,000 | 0.0% | +90.9% |
| Total revenue | $443.8M | 100% | — |
The lines above cover 155.6% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $991.0M | 60.8% | +142.3% |
| Argentina | $459.5M | 28.2% | +39.0% |
| Canada | $179.1M | 11.0% | -6.6% |
| Total revenue | $1.63B | 100% | — |

## Company outlook (8-K filed 2026-08-04)

- "Guidance" table within the press release titled "SSR Mining Reports Full-Year Results and 2026 Operating Guidance" dated February 17, 2026 for a breakdown of sustaining capital expenditures."
- "(23) Share-based compensation guidance uses a reference price of approximately US$32.50 per share."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.68 | $1.10 | -38.5% | $445.5M | 5 |
| Next quarter (ends 2026-12-31) | $1.38 | $1.46 | -5.4% | $666.4M | 2 |
| Current fiscal year (ends 2026-12-31) | $3.78 | $4.11 | -8.0% | $2.13B | 8 |
| Next fiscal year (ends 2027-12-31) | $3.71 | $4.96 | -25.1% | $2.21B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-03): ±13.3%; last 8 reports averaged ±11.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 58.7% | ±13.3% |
| 2026-12-18 | 56 | 55.8% | ±17.6% |
| 2027-01-15 | 84 | 53.8% | ±20.7% |
| 2027-03-19 | 147 | 55.7% | ±28.1% |
| 2027-06-17 | 237 | 56.3% | ±36.1% |