SSR Mining (SSRM) Q1 2026 earnings summary

Executive summary

• Q1 2026 delivered strong operational and financial results, with production of 109,914 gold equivalent ounces and revenue rising 83.7% year-over-year to $581.8 million, driven by higher gold and silver prices and a full quarter of CC&V operations.

• Net income from continuing operations was $252.5 million ($1.16/diluted share), with adjusted net income at $250.1 million ($1.15/diluted share), both up sharply year-over-year.

• Announced sale of 80% stake in Çöpler mine for $1.5 billion in cash, expected to close by end of Q3 2026, repositioning as an Americas-focused gold and silver producer.

• Completed $300 million share buyback post-quarter, bringing total capital returned to shareholders since 2021 to $775 million.

• Portfolio now anchored by Marigold and CC&V, forming the third-largest gold production platform in the US.

Financial highlights

• Q1 2026 revenue was $581.8 million, up from $316.6 million in Q1 2025, with nearly $600 million from 113,000 gold equivalent ounces sold.

• Net income from continuing operations was $252.5 million ($1.16/diluted share); adjusted net income was $250.1 million ($1.15/diluted share).

• Free cash flow from continuing operations reached $210.8 million in Q1, nearly tripling year-over-year.

• Cash and cash equivalents stood at $634.1 million as of March 31, 2026; total liquidity was $1.13 billion.

• Puna mine delivered over $120 million in site-level free cash flow in Q1.

Outlook and guidance

• Full-year 2026 production guidance reaffirmed at 450,000–535,000 gold equivalent ounces, with 55%-60% of production expected in H2.

• Marigold: 170,000–200,000 oz gold at AISC $2,320–$2,390/oz; CC&V: 125,000–150,000 oz gold at AISC $1,780–$1,850/oz; Seabee: 60,000–70,000 oz gold at AISC $2,170–$2,240/oz; Puna: 6.25–7.00 Moz silver at AISC $20.00–$22.00/oz.

• Growth capital spend of $35 million planned for exploration and resource development in 2026.

• Strategic review of Hod Maden ongoing, with minimal capital costs expected in the near term.