SSRM
SSR Mining Inc.
SSRM's fundamentals are strong: revenue grew 39% and its operating margin rose 20 points to 41%. At 23x earnings, it's trading above its usual 19x. Analysts expect that strong growth to continue.
SSRM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
SSRM's revenue, profitability, cash flow and balance sheet are all currently healthy.
SSRM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 7.7x | $26.98 | — |
| Cheap | 10x | $11.75 | -56% |
| Fair | 19x | $21.92 | -19% |
| Current | 23x | $26.98 | — |
| Expensive | 34x | $39.86 | +48% |
Historical ranges are pointers, not guarantees.
SSRM's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 7.7x next year's earnings, in its cheap range.
SSRM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for SSRM, with profitability improving.
SSRM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.51 | +197% |
| Q3 2026 | $1.18 | +13% |
| Q2 2026 | $1.10 | +41% |
| Q1 2026 | $1.05 | +156% |
| Q4 2025 | $1.85 | +$3.14 |
| Q3 2025 | $1.04 | +$3.40 |
| Q2 2025 | $0.78 | +$3.12 |
| Q1 2025 | $0.41 | +$2.45 |
| Q4 2024 | -$1.29 | -$0.81 |
SSRM's earnings per share have fallen from their peak: $1.18 over the past year, against $2.27 in late 2021.
SSRM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $447.7M | +16% |
| Q2 2026 | $443.8M | +9.5% |
| Q1 2026 | $581.8M | +84% |
| Q4 2025 | $521.7M | +61% |
| Q3 2025 | $385.8M | +50% |
| Q2 2025 | $405.5M | +119% |
| Q1 2025 | $316.6M | +38% |
| Q4 2024 | $323.2M | -22% |
SSRM's revenue has grown year over year for seven quarters in a row: $448M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 27% | +5.7 points |
| Q2 2026 | 43% | +16 points |
| Q1 2026 | 52% | +31 points |
| Q4 2025 | 39% | +28 points |
| Q3 2025 | 22% | +18 points |
| Q2 2025 | 27% | +21 points |
| Q1 2025 | 21% | +185 points |
| Q4 2024 | 11% | +83 points |
SSRM's operating margin was 27% last quarter, up 5.7 points from the same quarter a year ago.
SSRM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$8.1M | -$7.5M |
| Q2 2026 | $67.8M | -29% |
| Q1 2026 | $175.7M | +347% |
| Q4 2025 | $106.4M | +89% |
| Q3 2025 | -$591K | +$32.5M |
| Q2 2025 | $95.4M | +$209.8M |
| Q1 2025 | $39.3M | +$48.7M |
| Q4 2024 | $56.4M | -61% |
SSRM usually generates cash, though not every quarter: the latest was −$8M, but it generated $342M over the past year.
SSRM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.4% | -5.1M shares |
| 1 year | -6.2% | -13.4M shares |
| 3 years | +0.1% | +191K shares |
| 5 years | -9.6% | -21.6M shares |
| Available history | +64% | +79.8M shares |
SSRM has 204M diluted shares, down 6.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $193.6M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
SSRM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.7x | Net Cash |
| Q2 2026 | -2.0x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -1.0x | Net Cash |
| Q2 2025 | -1.2x | Net Cash |
| Q1 2025 | -1.3x | Net Cash |
| Q4 2023 | -3.2x | Net Cash |
SSRM has more cash than debt.
SSRM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.2 | Neutral |
| Stochastic | 15.6 | Oversold |
SSRM's weekly RSI is 43 (neutral) and its Stochastic is 16 (oversold).
SSRM PE vs Basic Materials Sector
| Metric | SSRM | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 19x | 23% above |
| PE % | 61 | 40 | 21 pts above |
SSRM is trading at 23x earnings, a 23% premium to the Basic Materials sector's median of 19x.
SSRM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $30.8 | 12% below |
| 20 week MA | $31.6 | 15% below |
| 50 week MA | $29.2 | 7.4% below |
| 100 week MA | $21.6 | 25% above |
| 200 week MA | $15.8 | 71% above |
SSRM has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 71% above its 200-week average.
SSRM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.6 | $19.5 | +4.8% |
| 2021 | $19.5 | $17.7 | -9.5% |
| 2022 | $17.7 | $16.0 | -9.8% |
| 2023 | $16.0 | $10.8 | -33% |
| 2024 | $10.8 | $7.06 | -34% |
| 2025 | $7.06 | $23.2 | +228% |
| 2026 YTD | $23.2 | $27.0 | +16% |
SSRM has finished lower in four of the last six years. It's up 16% so far in 2026.