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SSRM Advances With Marigold Growth Initiatives: Can They Aid Upside?
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Key Takeaways
Marigold growth initiatives, including Buffalo Valley, support SSRM's plans for longer-term expansion.
Higher grades are expected to drive Marigold's production, with roughly 65% of H2 output in Q4.
Exploration at several brownfield targets supports Marigold's long-term growth and mine life extension.
SSR Mining Inc. (SSRM - Free Report) remains the third-largest U.S. gold producer, driven by the two high-quality, long-lived assets, Marigold in Nevada and CC&V in Colorado. SSR Mining is moving forward with growth initiatives across the Marigold mine, including Buffalo Valley. The company expects an updated life-of-mine plan by the end of 2026.
Marigold accounted for 33% of the company’s revenues in 2025 and produced 153,535 ounces of gold. The mine produced 68,789 ounces in the first six months of 2026 compared with 74,492 produced a year ago.
SSR Mining expects full-year production at Marigold to be 170,000-200,000 ounces. Production will be strongly weighted to the second half, with around 65% of second-half production expected in the fourth quarter. The upside will be driven by higher grades.
The company increased the mine’s 2026 growth capital guidance from $48 million to $65 million as it plans to boost longer-term growth. Ongoing exploration and evaluation of other brownfield targets, including New Millennium, Marigold North and DG80, continues in support of longer-term growth and mine life extension. With more than 38 years of operations, SSR Mining remains optimistic about Marigold's long-term growth.
Along with SSRM’s other key projects like CC&V, as well as Seabee and Puna, Marigold showcases significant potential upside. Including Marigold, SSR Mining’s total Mineral Reserves in the United States are around 6 million ounces of gold.
Mine Performances by SSR Mining’s Peers
AngloGold Ashanti plc’s (AU - Free Report) gold production dipped 4% year over year in the first half of 2026, reflecting the sale of the Serra Grande mine in December 2025. Lower second-quarter production at AngloGold Ashanti’s Obuasi mine due to a contractor fatality in April 2026 and planned mine sequencing and maintenance across certain operations also led to the decline. However, AngloGold Ashanti expects second-half 2026 production to be higher than the first half.
Wheaton Precious Metals Corp.’s (WPM - Free Report) gold production in the second quarter was 90,434 ounces, down 2.6% year over year. The company reaffirmed the 2026 attributable production guidance of 860,000-940,000 GEOs. Wheaton Precious Metals expects production to be weighted to the second half, helped by mine sequencing at Salobo and Peñasquito, the full Antamina contribution, and continued ramp-up of newer assets.
Wheaton Precious Metals’ development pipeline also continues to advance. Blackwater's Phase 1A expansion was 57% complete at the end of the quarter and remains scheduled for commissioning in the fourth quarter of 2026. Koné targets first gold in late fourth-quarter 2026, while Platreef expects commercial production in the fourth quarter. WPM continues to forecast production of 1.2 million GEOs by 2030.
SSRM’s Price Performance, Valuations & Estimates
The SSRM stock has appreciated 75.8% in a year compared with the industry’s growth of 50.3%. Meanwhile, the Zacks Basic Materials sector and the S&P 500 have returned 32.7% and 21.1%, respectively.
Image Source: Zacks Investment Research
SSRM is currently trading at a forward 12-month price-to-earnings multiple of 9.55, a discount to the industry average of 16.97X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $3.87 per share, indicating a year-over-year surge of 92.5%. The estimate for 2027 of $3.90 per share suggests an increase of 1%.
Estimates for 2026 and 2027 have moved south over the past 60 days.
View the Zacks #1 Rank List
Image: Bigstock
SSRM Advances With Marigold Growth Initiatives: Can They Aid Upside?
Key Takeaways
SSR Mining Inc. (SSRM - Free Report) remains the third-largest U.S. gold producer, driven by the two high-quality, long-lived assets, Marigold in Nevada and CC&V in Colorado. SSR Mining is moving forward with growth initiatives across the Marigold mine, including Buffalo Valley. The company expects an updated life-of-mine plan by the end of 2026.
Marigold accounted for 33% of the company’s revenues in 2025 and produced 153,535 ounces of gold. The mine produced 68,789 ounces in the first six months of 2026 compared with 74,492 produced a year ago.
SSR Mining expects full-year production at Marigold to be 170,000-200,000 ounces. Production will be strongly weighted to the second half, with around 65% of second-half production expected in the fourth quarter. The upside will be driven by higher grades.
The company increased the mine’s 2026 growth capital guidance from $48 million to $65 million as it plans to boost longer-term growth. Ongoing exploration and evaluation of other brownfield targets, including New Millennium, Marigold North and DG80, continues in support of longer-term growth and mine life extension. With more than 38 years of operations, SSR Mining remains optimistic about Marigold's long-term growth.
Along with SSRM’s other key projects like CC&V, as well as Seabee and Puna, Marigold showcases significant potential upside. Including Marigold, SSR Mining’s total Mineral Reserves in the United States are around 6 million ounces of gold.
Mine Performances by SSR Mining’s Peers
AngloGold Ashanti plc’s (AU - Free Report) gold production dipped 4% year over year in the first half of 2026, reflecting the sale of the Serra Grande mine in December 2025. Lower second-quarter production at AngloGold Ashanti’s Obuasi mine due to a contractor fatality in April 2026 and planned mine sequencing and maintenance across certain operations also led to the decline. However, AngloGold Ashanti expects second-half 2026 production to be higher than the first half.
Wheaton Precious Metals Corp.’s (WPM - Free Report) gold production in the second quarter was 90,434 ounces, down 2.6% year over year. The company reaffirmed the 2026 attributable production guidance of 860,000-940,000 GEOs. Wheaton Precious Metals expects production to be weighted to the second half, helped by mine sequencing at Salobo and Peñasquito, the full Antamina contribution, and continued ramp-up of newer assets.
Wheaton Precious Metals’ development pipeline also continues to advance. Blackwater's Phase 1A expansion was 57% complete at the end of the quarter and remains scheduled for commissioning in the fourth quarter of 2026. Koné targets first gold in late fourth-quarter 2026, while Platreef expects commercial production in the fourth quarter. WPM continues to forecast production of 1.2 million GEOs by 2030.
SSRM’s Price Performance, Valuations & Estimates
The SSRM stock has appreciated 75.8% in a year compared with the industry’s growth of 50.3%. Meanwhile, the Zacks Basic Materials sector and the S&P 500 have returned 32.7% and 21.1%, respectively.
SSRM is currently trading at a forward 12-month price-to-earnings multiple of 9.55, a discount to the industry average of 16.97X.
The Zacks Consensus Estimate for 2026 earnings is pegged at $3.87 per share, indicating a year-over-year surge of 92.5%. The estimate for 2027 of $3.90 per share suggests an increase of 1%.
Estimates for 2026 and 2027 have moved south over the past 60 days.
SSRM currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.