A Business at a Glance
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Table of Contents SSR Mining Inc. and its subsidiaries (collectively, “SSR Mining,” or “Company”) is a precious metals mining company with assets located in the United States, Türkiye, Canada and Argentina. The Company is primarily engaged in the operation, acquisition, exploration and development of precious metal resource properties located in Türkiye and the Americas. The Company produces gold doré as well as copper, silver, lead and zinc concentrates. The Company's common shares are listed on the Toronto Stock Exchange (“TSX”) in Canada and the Nasdaq Global Select Market (“Nasdaq”) in the U.S. under the symbol “SSRM”. SSR Mining voluntarily delisted from the Australian Securities Exchange (“ASX”) in Australia under the symbol “SSR”, effective April 8, 2025. In this report, “SSR Mining,” the “Company,” “our,” “us” and “we” refer to SSR Mining Inc. together with its affiliates and subsidiaries, unless the context otherwise requires.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.6B | 1.6B | 996M | 1.4B | 1.1B | 1.5B |
| Net Income | 396M | 396M | -261M | -98M | 194M | 368M |
| EPS | $1.85 | $1.85 | $-1.29 | $-0.48 | $0.89 | $1.63 |
| Free Cash Flow | 242M | 242M | -103M | 198M | 23M | 444M |
| ROIC | 12.5% | 11.7% | -8.2% | -2.8% | 5.1% | 9.6% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.03 | 0.03 | 0.03 | 0.03 | 0.08 | 0.11 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.28 | $0.27 | $0.19 |
| Operating Income | 461M | 461M | -322M | -130M | 190M | 444M |
| Operating Margin | 28.3% | 28.3% | -32.4% | -9.1% | 16.6% | 30.1% |
| ROE | 11.3% | 12.0% | -8.4% | -2.9% | 5.4% | 10.4% |
| Shares Outstanding | 214M | 214M | 203M | 204M | 218M | 226M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 607M | 853M | 1.5B | 1.1B | 1.4B | 996M | 1.6B | 1.6B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 31M | 34M | 57M | 72M | 67M | 63M | 108M | 108M |
| EBIT | 118M | 188M | 444M | 190M | -130M | -322M | 461M | 461M |
| Op. Margin | 19.5% | 22.1% | 30.1% | 16.6% | -9.1% | -32.4% | 28.3% | 28.3% |
| Net Income | 103M | 152M | 368M | 194M | -98M | -261M | 396M | 396M |
| Net Margin | 16.9% | 17.8% | 25.0% | 16.9% | -6.9% | -26.2% | 24.3% | 24.3% |
| Non-Recurring | -863K | -2.8M | 20M | 0 | 50M | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | 10.3% | 6.4% | 9.6% | 5.1% | -2.8% | -8.2% | 11.7% | 12.5% |
| ROE | 10.3% | 6.9% | 10.4% | 5.4% | -2.9% | -8.4% | 12.0% | 11.3% |
| ROA | 6.1% | 4.4% | 7.1% | 3.7% | -1.8% | -5.0% | 7.0% | 6.5% |
| Cash Flow | ||||||||
| Op. Cash Flow | 118M | 307M | 609M | 161M | 422M | 40M | 472M | 472M |
| Free Cash Flow | 7.5M | 168M | 444M | 23M | 198M | -103M | 242M | 242M |
| Owner Earnings | 18M | 182M | 366M | -27M | 203M | -95M | 311M | 311M |
| CapEx | 111M | 139M | 165M | 138M | 223M | 144M | 230M | 230M |
| Maint. CapEx | 86M | 109M | 228M | 181M | 214M | 130M | 116M | 116M |
| Growth CapEx | 25M | 30M | 0 | 0 | 9.4M | 13M | 114M | 114M |
| D&A | 86M | 109M | 228M | 181M | 214M | 130M | 116M | 116M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 53.0% | 357.7% | 48.8% | 48.8% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 43M | 59M | 58M | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | 2.1% | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 148M | 100M | 56M | 9.8M | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | 2.0% | 0.8% | N/A | 0.0% |
| Stock-Based Comp | 14M | 16M | 15M | 6.5M | 5.2M | 4.7M | 45M | 45M |
| Debt Repayment | 0 | 35M | 70M | 71M | 71M | 920K | 0 | 0 |
| Balance Sheet | ||||||||
| Net Debt | N/A | -450M | -679M | -394M | -418M | -326M | -486M | -445M |
| Cash & Equiv. | 504M | 861M | 1.0B | 655M | 492M | 388M | 535M | 535M |
| Long-Term Debt | N/A | 367M | 295M | 227M | 86M | 81M | 76M | 76M |
| Debt/Equity | 0.62 | 0.13 | 0.11 | 0.08 | 0.03 | 0.03 | 0.03 | 0.03 |
| Interest Coverage | 9.3 | 13.6 | 23.3 | 10.0 | -7.8 | -24.7 | 31.7 | 31.7 |
| Equity | 1.0B | 3.3B | 3.5B | 3.6B | 3.4B | 3.1B | 3.5B | 3.5B |
| Total Assets | 1.7B | 5.2B | 5.2B | 5.3B | 5.4B | 5.2B | 6.1B | 6.1B |
| Total Liabilities | 648M | 1.3B | 1.2B | 1.1B | 1.1B | 1.2B | 1.8B | 1.8B |
| Intangibles | N/A | 50M | 50M | 50M | 0 | N/A | N/A | N/A |
| Retained Earnings | N/A | 92M | 398M | 522M | 368M | 113M | 509M | 509M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||||
| EPS | 0.78 | 0.96 | 1.63 | 0.89 | -0.48 | -1.29 | 1.85 | 1.85 |
| Owner EPS | 0.14 | 1.15 | 1.62 | -0.12 | 0.99 | -0.47 | 1.45 | 1.45 |
| Book Value | 7.92 | 21.13 | 15.67 | 16.41 | 16.52 | 15.34 | 16.40 | 16.40 |
| Cash Flow/Share | 0.90 | 1.95 | 2.70 | 0.74 | 2.07 | 0.20 | 2.21 | 2.39 |
| Dividends/Share | 0.00 | 0.00 | 0.19 | 0.27 | 0.28 | 0.00 | 0.00 | 0.00 |
| Shares Out. | 131.8M | 157.8M | 225.8M | 218.1M | 204.2M | 202.5M | 213.9M | 213.9M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 12.4 | 13.2 |
| P/FCF | N/A | N/A | N/A | N/A | 14.0 | N/A | 20.4 | 21.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 9.6 | 10.4 |
| Price/Book | N/A | N/A | N/A | N/A | 0.8 | 0.4 | 1.4 | 1.5 |
| Price/Sales | N/A | N/A | N/A | N/A | 1.9 | 2.5 | 1.7 | 3.2 |
| FCF Yield | N/A | N/A | N/A | N/A | 7.2% | -8.7% | 4.9% | 4.6% |
| Market Cap | N/A | N/A | N/A | N/A | 2.8B | 1.2B | 4.9B | 5.2B |
| Avg. Price | N/A | N/A | N/A | N/A | 13.43 | 12.05 | 12.85 | 24.50 |
| Year-End Price | N/A | N/A | N/A | N/A | 13.55 | 5.87 | 23.00 | 24.50 |
SSR MINING INC. passes 3 of 9 quality checks, indicating weak fundamentals.
SSR MINING INC. trades at 13.2x trailing earnings, compared to its 15-year median P/E of 12.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 20.6x vs a median of 17.2x. The company's 5-year average ROIC is 3.1%. At current prices, the estimated annualized return to fair value is +1.0%.
SSR MINING INC. (SSRGF) has a current P/E ratio of 13.2, compared to its historical median P/E of 12.4. The stock is currently considered Expensive based on its historical valuation range.
SSR MINING INC. (SSRGF) has a 5-year average return on invested capital (ROIC) of 3.1%. This is below average and may indicate limited pricing power.
SSR MINING INC. (SSRGF) has a market capitalization of $5.2B. It is classified as a mid-cap stock.
SSR MINING INC. (SSRGF) does not currently pay a regular dividend.
Based on historical P/E analysis, SSR MINING INC. (SSRGF) appears expensive. The current P/E of 13.2 is 7% above its historical median of 12.4. The estimated fair value CAGR (P/E method) is 1.5%.
SSR MINING INC. (SSRGF) operates in the Mineral Royalty Traders industry, within the Financials sector.
SSR MINING INC. (SSRGF) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
SSR MINING INC. (SSRGF) has a net profit margin of 24.3%. This is a strong margin indicating high profitability.
SSR MINING INC. (SSRGF) generated $242 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SSR MINING INC. (SSRGF) has a debt-to-equity ratio of 0.03. This indicates a conservatively financed balance sheet.
SSR MINING INC. (SSRGF) reported earnings per share (EPS) of $1.85 in its most recent fiscal year.
SSR MINING INC. (SSRGF) has a return on equity (ROE) of 12.0%. This indicates moderate shareholder returns.
The Ledger Terminal provides 7 years of financial data for SSR MINING INC. (SSRGF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SSR MINING INC. (SSRGF) has a book value per share of $16.40, based on its most recent annual SEC filing.