SSR Mining jumps as Q1 profit surges on gold prices, asset sale

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SSR Mining (SSRM [https://seekingalpha.com/symbol/SSRM]) reported results that topped Wall Street expectations on both revenue and earnings, sending its shares up 7.3% in extended trading Tuesday. The stock has surged about 170% over the past 12 months.

Revenue of $581.8 million for the first quarter was ahead of the Wall Street consensus estimate of $533.7 million. Adjusted earnings came in at $1.15 a share, beating expectations for $0.80 a share.

Net income rose to $252.5 million, or $1.16 a share, from $85.7 million, or $0.40 a share, a year earlier.

The company also generated $299.6 million in operating cash flow from continuing operations and $210.8 million in free cash flow during the quarter.

PORTFOLIO SHIFT AND CASH FLOW STRENGTH

During the quarter, SSR Mining (SSRM [https://seekingalpha.com/symbol/SSRM]) announced a $1.5 billion agreement to sell its 80% stake in the Çöpler mine in Turkey, a move that will further concentrate its operations in the Americas.

Executive Chairman Rod Antal said in the earnings release, “The first quarter of 2026 marked a significant milestone for our business with the definitive agreement to sell our ownership in Çöpler for $1.5 billion in cash.”

The company ended the quarter with $634.1 million in cash and no significant long-term debt, following the conversion of $230 million in convertible notes into equity.

SSR Mining (SSRM [https://seekingalpha.com/symbol/SSRM]) also returned capital to shareholders, completing roughly $300 million in share repurchases after quarter-end as part of a broader buyback program.

OPERATIONS ACROSS KEY MINES

Total production reached 109,914 gold equivalent ounces in the quarter, broadly in line with company expectations and keeping SSR Mining (SSRM [https://seekingalpha.com/symbol/SSRM]) on track to meet its full-year guidance of 450,000 to 535,000 ounces.

Performance was supported by strong output at the Cripple Creek & Victor mine, while operations at Seabee were temporarily weighted toward development work that is expected to boost production later in the year.

At Puna in Argentina, elevated silver prices helped drive strong margins, reinforcing the asset’s role as a key contributor to cash flow.

SSR Mining (SSRM [https://seekingalpha.com/symbol/SSRM]) continues to invest in exploration and development projects across its portfolio, including Buffalo Valley at Marigold and Cortaderas at Puna, as it looks to extend mine life and support future growth.

Looking ahead, the company said it expects its Americas-focused platform and strong free cash flow generation to support continued growth and shareholder returns.

SSR Mining (SSRM [https://seekingalpha.com/symbol/SSRM]) as a precious metals producer focused on gold and silver operates mines across the Americas, including Marigold in Nevada, Cripple Creek & Victor in Colorado, Seabee in Canada and Puna in Argentina. The company produces gold as its primary commodity, along with silver, lead and zinc as byproducts.

MORE ON SSR MINING INC.

* SSR Mining: Copler Drag Gone, Strong EPS, Hiking My Target [https://seekingalpha.com/article/4889801-ssr-mining-copler-drag-gone-strong-eps-hiking-my-target]
* SSR Mining: $1.5 Billion Cash Infusion And Recent Insider Buying [https://seekingalpha.com/article/4889746-ssr-mining-1-5-billion-cash-infusion-and-recent-insider-buying]
* SSR Mining: One Of The Most Undervalued Gold And Silver Miners Now (Rating Upgrade) [https://seekingalpha.com/article/4882625-ssr-mining-stock-one-of-the-most-undervalued-gold-and-silver-miners-now-rating-upgrade]
* SSR Mining Non-GAAP EPS of $1.15 beats by $0.35, revenue of $581.78M beats by $48.1M [https://seekingalpha.com/news/4586185-ssr-mining-non-gaap-eps-of-1_15-beats-by-0_35-revenue-of-581_78m-beats-by-48_1m]
* SSR Mining Q1 2026 Earnings Preview [https://seekingalpha.com/news/4585229-ssr-mining-q1-2026-earnings-preview]