SSR Mining posted Q2 adjusted EPS of $0.45 on $389.5M revenue, with gold output of 168K oz at AISC of $1,298. The miner reaffirmed 2026 production guidance of 650K-700K oz and announced a $150M buyback.
Alpha Score of 44 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
SSR Mining reported second-quarter adjusted earnings of $0.45 a share, with revenue of $389.5 million. Gold equivalent production hit 168,000 ounces at an all-in sustaining cost of $1,298 an ounce, Executive Chairman Rodney Antal said on the earnings call.
The company reaffirmed its 2026 production guidance of 650,000 to 700,000 ounces at AISC of $1,300 to $1,400 an ounce. It also announced a $150 million share buyback program.
Marigold in Nevada led the portfolio with 55,000 ounces at AISC of $1,150 an ounce, Antal said. Seabee in Saskatchewan produced 35,000 ounces at $1,050 an ounce. Puna, the silver mine in Argentina, contributed 4 million ounces of silver at AISC of $12 an ounce.
Çöpler in Turkey, which restarted operations earlier this year, produced 20,000 ounces at AISC of $1,450 an ounce. Bill MacNevin, executive vice president of operations, said Çöpler is ramping up and expected to contribute more in the second half.
Cash flow from operations was $145 million, and free cash flow reached $85 million after capital spending of $60 million, CFO Michael Sparks said. The company ended the quarter with $450 million in cash and a $300 million undrawn credit facility.
Analysts on the call asked about cost inflation and mine life extensions. Antal said SSR Mining is planning conservatively with a gold price assumption of $1,800 an ounce, well below spot levels, which gives the company a cushion against cost pressures. He also highlighted exploration spending aimed at extending mine lives at Marigold and Seabee.
Lawson Winder of BofA Securities asked about cost trends. Antal said the miner is seeing some inflation in consumables but offsetting that with productivity gains. Don DeMarco of National Bank Financial asked about exploration success at Seabee. MacNevin said recent drill results are positive and should support a longer mine life.
The buyback authorization allows the company to repurchase up to $150 million of its shares through August 2027. Sparks said the balance sheet and buyback signal confidence in cash flow generation.
SSR Mining has no debt and a low-cost production base. The company's gold profile shows it is on track to deliver within its 2026 guidance range, with the second half expected to benefit from higher output at Çöpler.
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