SSR Mining: A Proven Playbook And A Fresh War Chest

SSRMining (SSRM) is now a pure-play Americas gold and silver producer with $2.1B net cash after divesting Çöpler. SSRM's four operating mines generate robust free cash flow, supporting a 10% FCF yield and ongoing capital deployment opportunities. The stock trades at 0.7x NAV with a Buy rating and $40 price target, reflecting confidence in management's acquisition strategy. Key risks include gold price sensitivity, capital misallocation, and Seabee's H2 production delivery impacting consolidated AISC.

In February 2025, SSR Mining (SSRM:CA) (SSRM) bought Cripple Creek & Victor, located in Colorado, for $100 million upfront with up to $175 million in contingent milestones.