Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Whil ...

Core Insights - SSR Mining Inc. has temporarily suspended operations at the Seabee mine in Canada due to power outages caused by nearby forest fires [1][8] - The Seabee mine produced 26,001 ounces of gold in Q1 2025, reflecting a year-over-year increase of 9.4% [2][8] - Despite the operational halt, SSR Mining's shares rose by 3% and reached a 52-week high of $13.33, driven by high gold and silver prices [4][8] Production and Financial Outlook - SSR Mining expects the Seabee mine to produce between 70,000 to 80,000 ounces of gold for the full year of 2025 [3] - The cost of sales for the mine is projected to be between $1,230 and $1,270 per payable ounce, with an all-in sustaining cost (AISC) anticipated to be between $1,710 and $1,750 per payable ounce for 2025 [3] Market Performance - Silver prices have reached a 13-year high above $36 per ounce, while gold prices have also seen significant increases, currently around $3,320 per ounce [5] - SSR Mining's share price has surged by 147.9% over the past year, contrasting with a 2.2% decline in the industry [7] Strategic Moves - The recent acquisition of the Cripple Creek & Victor mine from Newmont Corporation positions SSR Mining as the third-largest gold producer in the United States, expected to boost annual production by 170,000 ounces of gold [6]

Core Viewpoint - SSR Mining (SSRM) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5]. - Institutional investors often adjust their valuations based on earnings estimates, leading to significant stock price movements when they buy or sell large amounts of shares [3]. Company Performance Indicators - SSR Mining is projected to earn $1.09 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 289.3% [7]. - Over the past three months, the Zacks Consensus Estimate for SSR Mining has risen by 10.7%, indicating a positive trend in earnings estimates [7]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, highlighting SSR Mining's strong position in terms of earnings estimate revisions [8][9].

Core Insights - SSR Mining Inc. (SSRM) reached a new 52-week high of $11.89 before closing at $11.74, with a market capitalization of $2.38 billion and a Zacks Rank 2 (Buy) [1] - SSR Mining's stock has increased by 68.6% year-to-date, significantly outperforming the industry growth of 8.6% and the Basic Materials Sector's growth of 6.8% [1] Acquisition and Production - SSR Mining completed the acquisition of the Cripple Creek & Victor (CC&V) mine from Newmont Corporation, positioning itself as the third-largest gold producer in the U.S. [4] - The CC&V mine has reported gold Mineral Reserves of 2.4 million ounces, with an 85% year-over-year increase from 2023 [5] - The addition of CC&V is expected to boost SSR Mining's annual gold production by 170,000 ounces [6] Production Guidance - SSR Mining anticipates a more than 10% year-over-year increase in gold equivalent ounces (GEO) production for 2025, with expected production ranging from 410,000 to 480,000 ounces [6][7] - The Marigold mine is projected to produce 160,000-190,000 ounces, while the Seabee mine is expected to yield 70,000-80,000 ounces [7] - The expected gold production from the CC&V mine for 2025 is estimated at 90,000-110,000 ounces [8] Financial Performance - In Q1 2025, SSR Mining reported adjusted earnings per share of 29 cents, exceeding the Zacks Consensus Estimate by 262.50% and marking a 164% improvement from the previous year [9] - Total revenues for Q1 2025 increased by 38% year-over-year to $317 million [9] - The average realized gold price rose by 42% to $2,935 per ounce, while the average realized silver price increased by 46% to $23.23 per ounce [10] Development and Exploration - SSR Mining invested $12.2 million in the Hod Maden project during Q1 2025, focusing on engineering and early-stage site development [11] - The company is advancing exploration and development initiatives across its asset portfolio to identify high-return, low-capital opportunities [11] Market Trends - Gold prices have increased by 25.5% in 2025, driven by geopolitical tensions and central bank buying, while silver prices have risen by 14.6% due to demand from the electrification sector [12]

Company Overview - SSR Mining (SSRM) currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for outperformance in the market [4] Performance Metrics - Over the past week, SSRM shares have increased by 7.26%, outperforming the Zacks Mining - Miscellaneous industry, which rose by 3.66% [6] - In a longer timeframe, SSRM's monthly price change is 9.25%, significantly higher than the industry's 1.69% [6] - Over the last quarter, SSRM shares have risen by 17.42%, and they have surged by 113.81% in the past year, while the S&P 500 has only moved 1.35% and 13.07% respectively [7] Trading Volume - SSRM's average 20-day trading volume is 2,125,763 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - Recent earnings estimate revisions show 1 upward revision and 3 downward revisions for the current fiscal year, raising the consensus estimate from $0.95 to $1.09 over the past 60 days [10] - For the next fiscal year, 4 estimates have moved upwards with no downward revisions, indicating positive sentiment [10] Conclusion - Given the strong performance metrics and positive earnings outlook, SSR Mining is recommended as a solid momentum pick for investors [12]

Group 1 - SSR Mining Inc. reported strong performance in the first quarter of 2025, with all operations meeting or exceeding plans [6] - The financial statements are prepared in accordance with U.S. GAAP and are available on EDGAR, SEDAR, and the company's website [3] - The conference call included discussions on forward-looking statements and non-GAAP financial measures, with relevant disclosures provided in the press release [4]

Production and Cost Metrics - SSR Mining reported first quarter 2025 production of 103,805 gold equivalent ounces at a cost of sales of $1,312 per payable ounce and all-in sustaining costs (AISC) of $1,972 per payable ounce[4]. - The company announced 2025 production guidance of 410,000 to 480,000 gold equivalent ounces with consolidated cost of sales expected to be between $1,375 and $1,435 per payable ounce[7]. - Marigold's production guidance for 2025 is set at 160,000 to 190,000 ounces of gold, with mine site cost of sales projected between $1,530 and $1,570 per payable ounce[10]. - Cripple Creek & Victor produced 11,282 ounces of gold from February 28 to March 31, 2025, with a cost of sales of $1,590 per payable ounce and AISC of $1,774 per payable ounce[12]. - Seabee produced 26,001 ounces of gold in Q1 2025, a 9.2% increase from 23,773 ounces in Q1 2024[15]. - Puna produced 2,505,000 ounces of silver in Q1 2025, a 30.8% increase from 1,915,000 ounces in Q1 2024[18]. - Full-year 2025 production guidance for Seabee is set at 70,000 to 80,000 ounces of gold with AISC of $1,710 to $1,750 per payable ounce[16]. - Full-year 2025 production guidance for Puna is projected at 8.00 to 8.75 million ounces of silver with AISC of $14.25 to $15.75 per payable ounce[19]. - Seabee's AISC per payable ounce decreased to $1,374 in Q1 2025 from $1,416 in Q1 2024[15]. - Puna's AISC per payable ounce improved to $13.16 in Q1 2025 from $15.61 in Q1 2024[18]. Financial Performance - The company generated net income attributable to SSR Mining shareholders of $58.8 million, or $0.28 per diluted share, and adjusted net income of $61.6 million, or $0.29 per diluted share in Q1 2025[5]. - SSR Mining's total revenue for Q1 2025 was $316.6 million, compared to $230.2 million in Q1 2024, reflecting a significant year-over-year increase[5]. - The company reported operating cash flow of $84.8 million and free cash flow of $39.3 million in the first quarter of 2025[5]. - Average realized gold price increased to $2,934 per ounce sold in Q1 2025, up 41.8% from $2,070 in Q1 2024[15]. - Average realized silver price rose to $32.47 per ounce sold in Q1 2025, a 46.3% increase from $22.18 in Q1 2024[18]. - The company reported a cash cost per gold ounce sold of $1,454 in Q1 2025, compared to $1,333 in Q1 2024, reflecting an increase of approximately 9.1%[41]. - AISC per gold equivalent ounce sold in Q1 2025 was $1,972, up from $1,569 in Q1 2024, marking an increase of about 25.7%[41]. - The company reported a net cash position of $89,612 thousand as of March 31, 2025, down from $157,882 thousand at the end of 2024, indicating a decrease of approximately 43.2%[33]. - Free cash flow for the three months ended March 31, 2025, was $39,298,000, a recovery from a negative free cash flow of $9,404,000 in Q1 2024[45]. - Cash provided by operating activities for Q1 2025 was $84,805,000, up from $24,631,000 in Q1 2024, indicating improved operational efficiency[46]. Liquidity and Capital Expenditures - As of March 31, 2025, SSR Mining had a cash and cash equivalent balance of $319.6 million and total liquidity of $819.6 million, including an undrawn revolving credit facility[4]. - The company anticipates sustaining capital expenditures of $119 million for 2025, which includes various operational costs[39]. - The company has a borrowing capacity of $400 million under its credit facility, with no borrowings outstanding as of March 31, 2025[34]. - The company spent $12.2 million on development and exploration activities at Hod Maden during the first quarter of 2025[4]. - The company included $9.4 million in share-based compensation expense in general and administrative expenses for Q1 2025[41]. Operational Challenges - Çöpler operations were suspended following an incident in February 2024, impacting production and costs[20]. - The company continues to work on the restart of the Çöpler mine, with no material capital expenditures expected until operations resume[40]. - The effects of the Çöpler Incident resulted in expenses of $1.3 million in Q1 2025, compared to significant reclamation and remediation costs totaling $218.3 million in Q1 2024[43].

Financial Performance - Revenue for Q1 2025 increased to $316,618,000, up 37.5% from $230,234,000 in Q1 2024[17] - Operating income for Q1 2025 was $66,892,000, compared to an operating loss of $376,424,000 in Q1 2024[17] - Net income attributable to SSR Mining shareholders was $58,781,000 in Q1 2025, a significant recovery from a net loss of $287,082,000 in Q1 2024[17] - Basic net income per share attributable to SSR Mining shareholders was $0.29 in Q1 2025, a recovery from a loss of $1.42 in Q1 2024[17] - The net income for the three months ended March 31, 2025, was $54.4 million, compared to a net loss of $358.2 million for the same period in 2024[27] - Net income attributable to SSR Mining shareholders for the three months ended March 31, 2025, was $94,136 thousand, compared to a net loss of $267,725 thousand in the same period of 2024[52] - Adjusted attributable net income for the same period was $61.6 million, a significant increase of 173.5% compared to $22.5 million in 2024[110] - For the three months ended March 31, 2025, net income attributable to SSR Mining shareholders was $58.8 million, compared to a loss of $287.1 million for the same period in 2024[174] Cash Flow and Liquidity - Cash and cash equivalents decreased to $319,612,000 as of March 31, 2025, down from $387,882,000 at the end of 2024[22] - The company reported net cash provided by operating activities of $84,805,000 for Q1 2025, compared to $24,631,000 in Q1 2024[20] - Cash provided by operating activities for the three months ended March 31, 2025, was $84.8 million, significantly higher than $24.6 million in 2024[176] - Free cash flow for the three months ended March 31, 2025, was $39.3 million, compared to a negative free cash flow of $9.4 million in the same period of 2024[176] - Cash used in investing activities surged to $154.3 million, an increase of $117.5 million, mainly due to the acquisition of CC&V[152] Assets and Liabilities - Total assets increased to $5,644,508,000 as of March 31, 2025, compared to $5,189,020,000 at the end of 2024[22] - Total liabilities rose to $1,640,900,000 as of March 31, 2025, up from $1,242,159,000 at the end of 2024[22] - The company’s retained earnings increased to $172,146,000 as of March 31, 2025, up from $113,365,000 at the end of 2024[22] - As of March 31, 2025, total equity amounted to $4,003.6 million, an increase from $3,946.9 million as of December 31, 2024[27] - The company had a total debt balance of $228,822,000 as of March 31, 2025, consistent with the previous quarter[92] Acquisitions - SSR Mining acquired Cripple Creek and Victor Gold Mine for $100 million in upfront cash and up to $175 million in milestone-based payments[39] - The acquisition of CC&V is expected to enhance the company's scale, free cash flow, and portfolio diversification[39] - The acquisition of CC&V contributed $34.9 million in revenue and $10.1 million in net income for the three months ended March 31, 2025[49] - The company incurred $6.8 million in transaction and integration costs related to the acquisition during the three months ended March 31, 2025[52] - Total assets acquired in the CC&V acquisition amounted to $513,223 thousand, with total liabilities of $269,025 thousand, resulting in net assets of $244,198 thousand[46] Operational Highlights - The company operates five mining operations across the United States, Türkiye, Canada, and Argentina, producing gold doré and various metal concentrates[28] - Gold produced decreased by 5.5% to 75,869 ounces, and gold sold decreased by 13.0% to 77,708 ounces, primarily due to the suspension of operations at the Çöpler property[110] - Gold production at Marigold increased by 11.3% to 38,586 ounces in Q1 2025, with revenue rising by $40.5 million or 52.8%[132] - Silver production increased by 30.8% to 2,505,000 oz compared to 1,915,000 oz in the same period last year[139] Costs and Expenses - The cost of sales increased by $10.7 million, or 8.5%, to $136.6 million, attributed to the acquisition of CC&V and higher costs at Marigold and Puna[115] - General and administrative expenses increased to $23.9 million in Q1 2025 from $12.9 million in Q1 2024, primarily due to share-based compensation expenses rising to $9.4 million[117] - Exploration and evaluation costs decreased to $6.9 million in Q1 2025 from $10.2 million in Q1 2024, attributed to reduced drilling activity[118] - Care and maintenance costs rose to $35.8 million in Q1 2025 compared to $14.4 million in Q1 2024, reflecting a full quarter of costs post-Çöpler Incident[120] Incident Impact - The company suspended operations at the Çöpler mine due to a significant incident, with no current estimate for resuming operations[30] - The Çöpler Incident has led to the permanent closure of heap leach processing, significantly impacting the company's operations and financial condition[108] - The effects of the Çöpler Incident included reclamation costs of $11.2 million and remediation costs of $261.7 million for the three months ended March 31, 2024[174] Market and Shareholder Information - SSR Mining's common shares are listed on the Toronto Stock Exchange and Nasdaq under the symbol "SSRM" and have voluntarily delisted from the Australian Securities Exchange[29] - The effective income tax rate for the first three months of 2025 was 14.3%, up from 5.4% in the same period of 2024[74] - The company has been involved in multiple securities class actions alleging violations of the Exchange Act, with ongoing litigation as of the report date[186][188]

Company Performance - SSR Mining (SSRM) has outperformed its peers in the Basic Materials sector with a year-to-date return of approximately 47.3% compared to the sector average of 3.6% [4] - The Zacks Consensus Estimate for SSRM's full-year earnings has increased by 18.1% over the past quarter, indicating improving analyst sentiment and a positive earnings outlook [3] - SSR Mining holds a Zacks Rank of 2 (Buy), suggesting it is positioned to outperform the broader market in the near term [3] Industry Context - SSR Mining is part of the Mining - Miscellaneous industry, which consists of 58 companies and currently ranks 147 in the Zacks Industry Rank [5] - The average return for stocks in the Mining - Miscellaneous industry this year is 3.8%, indicating that SSR Mining is performing significantly better than its industry peers [5] - Another notable performer in the Basic Materials sector is Franco-Nevada (FNV), which has achieved a year-to-date return of 44.7% and also holds a Zacks Rank of 2 (Buy) [4][6]

Production and Costs - Fourth quarter 2024 production was 124,154 gold equivalent ounces at a consolidated cost of sales of $1,295 per payable ounce and all-in sustaining costs (AISC) of $1,857 per payable ounce[2]. - For the full year 2024, SSR Mining produced 399,267 gold equivalent ounces at a consolidated cost of sales of $1,307 per payable ounce and AISC of $1,878 per payable ounce, including $60.8 million in cash care & maintenance costs at Çöpler[2]. - Marigold operations produced 168,262 ounces of gold in 2024 at a cost of sales of $1,457 per payable ounce and AISC of $1,711 per payable ounce[4]. - Puna operations achieved record silver production of 10.5 million ounces in 2024 at a cost of sales of $16.14 per payable ounce and AISC of $15.56 per payable ounce[4]. - Gold produced in Q4 2024 was 89,178 ounces, down from 178,677 ounces in Q4 2023, representing a 50% decrease[12]. - AISC per gold equivalent ounce sold for Q4 2024 was $1,857, an increase from $1,326 in Q4 2023, representing a rise of 40%[12]. - Cash costs for gold sold in Q4 2024 were reported at $4,419 per ounce, compared to $1,146 in Q4 2023[23]. - The average cost of sales per gold equivalent ounce sold in 2024 was $1,307, compared to $1,141 in 2023, reflecting an increase of approximately 15%[52]. Financial Performance - In the fourth quarter of 2024, net income attributable to SSR Mining shareholders was $5.6 million, or $0.03 per diluted share, while adjusted net income was $21.3 million, or $0.10 per diluted share[2]. - Full-year 2024 net income attributable to SSR Mining shareholders was $(261.3) million, or $(1.29) per diluted share, reflecting approximately $272.9 million in reclamation and remediation costs due to the Çöpler Incident[2]. - Revenue for Q4 2024 was $323,187,000, a decrease of 24.2% from $425,897,000 in Q4 2023[12]. - Adjusted net income attributable to SSR Mining shareholders for Q4 2024 was $21,266,000, compared to $127,077,000 in Q4 2023, a decrease of 83.3%[12]. - SSR Mining reported a net income attributable to shareholders of $5,555,000 for Q4 2024, a significant improvement from a net loss of $217,845,000 in Q4 2023[54]. - Adjusted net income attributable to SSR Mining shareholders for the twelve months ended December 31, 2024, was $57,591,000, compared to $276,494,000 for the same period in 2023[54]. - Free cash flow for Q4 2024 was $56,406,000, down from $144,370,000 in Q4 2023, while the twelve-month free cash flow was $(103,404,000) compared to $198,303,000 in 2023[56]. Cash and Liquidity - As of December 31, 2024, SSR Mining had a cash and cash equivalent balance of $387.9 million and total liquidity of $887.5 million[2]. - As of December 31, 2024, total cash was $387,882,000, down from $492,494,000 as of December 31, 2023, representing a decrease of approximately 21.2%[43]. - Total liquidity as of December 31, 2024, was $887,882,000, down from $992,494,000 in 2023, marking a decrease of about 10.6%[44]. - The company has no outstanding borrowings on its $400 million credit facility, which includes a $100 million accordion feature[44]. Mineral Reserves and Resources - Total Proven and Probable gold equivalent Mineral Reserves as of December 31, 2024 were 8.0 million ounces, up 3% year-over-year[3]. - SSR Mining's total Proven and Probable Mineral Reserves as of December 31, 2024, were 7.57 million ounces of gold, reflecting a 4% increase year-over-year[29]. - The company reported a 9% increase in Measured and Indicated Mineral Resources for gold, totaling 4.4 million ounces as of December 31, 2024[29]. - SSR Mining's total Measured and Indicated (M&I) Resources decreased to 4,398,000 ounces of gold as of December 31, 2024, from 4,034,000 ounces as of December 31, 2023[58]. Reclamation and Remediation - The Company spent $127.6 million on reclamation and remediation efforts at Çöpler in 2024, with forecasted future spend of $250.0 to $300.0 million[4]. - The impact of the Çöpler Incident resulted in a total impairment charge of $91.4 million related to plans to permanently close the heap leach pad[54]. - The company reported a care and maintenance expense of $70,189,000 in 2024, compared to $21,282,000 in 2023, indicating a significant increase[52]. Acquisitions - SSR Mining announced the acquisition of the Cripple Creek & Victor Gold Mine for $100 million in upfront cash and up to $175 million in milestone-based payments[4]. - SSR Mining announced a definitive purchase agreement to acquire the CC&V Gold Mine, with the transaction expected to close in Q1 2025[28]. Operational Metrics - Cash provided by operating activities for Q4 2024 was $94,979,000, compared to $203,159,000 in Q4 2023, a decrease of 53.3%[12]. - Total assets as of December 31, 2024, were $5,189,020,000, a decrease from $5,385,773,000 as of December 31, 2023[12]. - General and administrative expenses in Q4 2024 were $17,558,000, up from $15,080,000 in Q4 2023, an increase of 16.5%[51]. Market Conditions - Average realized gold price per ounce sold increased to $2,603 in Q4 2024 from $1,976 in Q4 2023, a rise of 31.6%[12]. - The average realized gold price for Q4 2024 was $2,230 per ounce sold, significantly higher than $1,989 in Q4 2023[23]. - The average realized silver price for Q4 2024 was $31.53 per ounce sold, compared to $23.23 in Q4 2023[19].