SSR Mining Rides Gold Rally and Restructures for North American Focus

SSR Mining’s stock surged more than 17 percent on Wednesday as investors cheered a blockbuster first-quarter earnings beat and a transformative $1.5 billion divestment that will reshape the company’s portfolio. The shares climbed to €26.01 in European trading, bringing year-to-date gains to roughly 55 percent—though one report cited a 41 percent advance, reflecting the volatility in cross-border currency translation.

The Toronto-based gold producer reported adjusted earnings per share of $1.15 for the first quarter of 2026, crushing the consensus estimate of $0.80. Revenue hit $581.8 million, propelled by higher gold and silver prices and strong operational performance at the Cripple Creek & Victor mine in Colorado. That asset has already recouped its original acquisition cost within just one year of ownership. Net income reached $252.5 million, while the company’s operating margin widened significantly.

A Debt-Free Balance Sheet and a $1.5 Billion Exit

SSR Mining ended the quarter with approximately $1.1 billion in total liquidity, including cash and equivalents of about $634 million. The company achieved a milestone by fully repaying its outstanding convertible notes, leaving it debt-free. Management also deployed $300 million on share buybacks during the period, signaling confidence in the new direction.

Should investors sell immediately? Or is it worth buying Mining?

The biggest catalyst, however, is the planned sale of SSR’s 80 percent stake in the Çöpler mine in Turkey to Cengiz Holding for $1.5 billion in cash. The transaction is expected to close by the end of the third quarter of 2026. Proceeds will further bolster an already strong balance sheet and fund the company’s pivot toward North America.

Production Targets and Operational Highlights

First-quarter output totaled 109,914 gold-equivalent ounces, with the Puna mine in Argentina standing out thanks to realized silver prices above $90 per ounce. That operation, however, carries high all-in sustaining costs of over $2,400 per ounce. Management reaffirmed full-year production guidance of 450,000 to 535,000 gold-equivalent ounces, with 55 to 60 percent of output weighted toward the second half of the year. Capital spending on strategic development is expected to peak in the second and third quarters.

The company’s post-divestment focus will center on the Marigold mine in Nevada and Cripple Creek & Victor in Colorado. A review of the Hod Maden project is also on track for completion by the end of September. With a clean balance sheet, a pending cash infusion, and a streamlined asset base, SSR Mining is betting that less geography means more value for shareholders.

Ad

Mining Stock: New Analysis - 6 May

Fresh Mining information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.

Read our updated Mining analysis...

en | CA7847301032 | SSR | boerse | 69285786 |