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Can SSRM Maintain Momentum After a Strong Q1 Production Start?
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Key Takeaways
SSRM reported Q1 gold equivalent production of 103,805 oz, up 2% YoY, driven by mine site contributions.
Newly acquired CC
SSR Mining Inc. (SSRM - Free Report) kicked off 2025 on a strong note, reporting a 2% year-over-year increase in gold equivalent production for the first quarter, totaling 103,805 ounces. The highlight of the quarter was the contribution from the recently acquired Cripple Creek & Victor (CC&V) mine, which bolstered overall output and expanded SSRM’s U.S. operations. With gains expected across its Marigold, Seabee and Puna operations, SSR Mining remains well-positioned to meet its full-year production targets.
SSR Mining closed the CC&V acquisition from Newmont Corp. (NEM - Free Report) on Feb. 28, 2025. Despite being integrated for only a month during the quarter, CC&V contributed 11,282 ounces of gold to SSRM’s production. This early contribution signals the site’s long-term potential, with 2025 production guidance for CC&V set between 90,000 and 110,000 ounces of gold.
At the Marigold mine, gold production increased 11% year over year to 38,586 ounces, in line with the company’s expectations as Red Dot waste stripping continues. Full-year 2025 gold production guidance is set at 160,000-190,000, with 55-60% of production weighted to the second half of the year.
Seabee produced 26,001 ounces of gold in the first quarter, up 9% year over year, supported by high-grade ore from the Santoy 9 zone. Despite a temporary two-week suspension at Seabee in June due to power disruptions caused by nearby forest fires, SSRM maintains full-year production guidance at 70,000-80,000 ounces for the site.
The Puna mine produced 2.5 million ounces of silver (moz), which marked a 31% increase year over year. 2025 production guidance for Puna is 8.00- 8.75 moz, with production expected to be 50-55% weighted to the first half of 2025, driven largely by grades.
Overall, the company projects gold production between 320,000 and 380,000 ounces in 2025 across Seabee, Marigold and CC&V. Including silver output from Puna, total gold equivalent production for the year is forecast at 410,000-480,000 ounces, marking a 10% increase over the 2024 level.
Peer Performances & 2025 Expectations
Newmont’s attributable gold production was down 8.3% in the first quarter to 1.54 million ounces due to the strategic divestment of non-core assets. Newmont expects to produce approximately 5.9 million ounces of gold in 2025.
Barrick Mining Corporation (B - Free Report) produced 758,000 ounces of gold in the first quarter, down roughly 19.4% year over year, attributed to operational challenges. Barrick anticipates attributable gold production for 2025 to be in the range of 3.15-3.5 million ounces. Barrick had produced 3.911 million ounces of gold in 2024.
SSRM’s Price Performance, Valuation & Estimates
Year to date, SSRM shares have gained 77.9%, outpacing the industry's 12.2% growth. In comparison, the Basic Materials sector has risen 11.9%, while the S&P 500 has moved up 5.2%.
Image Source: Zacks Investment Research
SSR Mining is currently trading at a forward 12-month price-to-earnings multiple of 7.46X compared with the industry average of 14.27X.
Image Source: Zacks Investment Research
The consensus mark for 2025 earnings is pegged at $1.22 per share, indicating a year-over-year surge of 335.7%. The estimate for 2026 of $2.02 indicates an increase of 66%.
The Zacks Consensus Estimate for SSR Mining’s earnings for 2025 has moved up 48.8% over the past 60 days. The same for 2026 has moved up 16.1%.
Image Source: Zacks Investment Research
SSRM stock currently sports a Zacks Rank #1 (Strong Buy).
Image: Bigstock
Can SSRM Maintain Momentum After a Strong Q1 Production Start?
Key Takeaways
SSR Mining Inc. (SSRM - Free Report) kicked off 2025 on a strong note, reporting a 2% year-over-year increase in gold equivalent production for the first quarter, totaling 103,805 ounces. The highlight of the quarter was the contribution from the recently acquired Cripple Creek & Victor (CC&V) mine, which bolstered overall output and expanded SSRM’s U.S. operations. With gains expected across its Marigold, Seabee and Puna operations, SSR Mining remains well-positioned to meet its full-year production targets.
SSR Mining closed the CC&V acquisition from Newmont Corp. (NEM - Free Report) on Feb. 28, 2025. Despite being integrated for only a month during the quarter, CC&V contributed 11,282 ounces of gold to SSRM’s production. This early contribution signals the site’s long-term potential, with 2025 production guidance for CC&V set between 90,000 and 110,000 ounces of gold.
At the Marigold mine, gold production increased 11% year over year to 38,586 ounces, in line with the company’s expectations as Red Dot waste stripping continues. Full-year 2025 gold production guidance is set at 160,000-190,000, with 55-60% of production weighted to the second half of the year.
Seabee produced 26,001 ounces of gold in the first quarter, up 9% year over year, supported by high-grade ore from the Santoy 9 zone. Despite a temporary two-week suspension at Seabee in June due to power disruptions caused by nearby forest fires, SSRM maintains full-year production guidance at 70,000-80,000 ounces for the site.
The Puna mine produced 2.5 million ounces of silver (moz), which marked a 31% increase year over year. 2025 production guidance for Puna is 8.00- 8.75 moz, with production expected to be 50-55% weighted to the first half of 2025, driven largely by grades.
Overall, the company projects gold production between 320,000 and 380,000 ounces in 2025 across Seabee, Marigold and CC&V. Including silver output from Puna, total gold equivalent production for the year is forecast at 410,000-480,000 ounces, marking a 10% increase over the 2024 level.
Peer Performances & 2025 Expectations
Newmont’s attributable gold production was down 8.3% in the first quarter to 1.54 million ounces due to the strategic divestment of non-core assets. Newmont expects to produce approximately 5.9 million ounces of gold in 2025.
Barrick Mining Corporation (B - Free Report) produced 758,000 ounces of gold in the first quarter, down roughly 19.4% year over year, attributed to operational challenges. Barrick anticipates attributable gold production for 2025 to be in the range of 3.15-3.5 million ounces. Barrick had produced 3.911 million ounces of gold in 2024.
SSRM’s Price Performance, Valuation & Estimates
Year to date, SSRM shares have gained 77.9%, outpacing the industry's 12.2% growth. In comparison, the Basic Materials sector has risen 11.9%, while the S&P 500 has moved up 5.2%.
SSR Mining is currently trading at a forward 12-month price-to-earnings multiple of 7.46X compared with the industry average of 14.27X.
Image Source: Zacks Investment Research
The consensus mark for 2025 earnings is pegged at $1.22 per share, indicating a year-over-year surge of 335.7%. The estimate for 2026 of $2.02 indicates an increase of 66%.
The Zacks Consensus Estimate for SSR Mining’s earnings for 2025 has moved up 48.8% over the past 60 days. The same for 2026 has moved up 16.1%.
Image Source: Zacks Investment Research
SSRM stock currently sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.