SSR Mining Stock Hits 52-Week High: What's Driving Its Performance?

SSR Mining Inc. SSRM scaled a new 52-week high of $11.89 on Thursday before ending the session at a lower at $11.74. 

The company currently has a market capitalization of $2.38 billion and a Zacks Rank #2 (Buy).

SSR Mining stock has gained 68.6% so far this year compared with the industry’s 8.6% growth. Meanwhile, the Basic Materials Sector has gained 6.8% and the S&P 500’s year-to-date performance has been flat.

SSRM Stock's YTD Performance vs Industry, Sector & S&P 500

What’s Driving the SSR Mining Stock?

Acquisition of CC&V Mine: On March 3, 2025, SSR Mining closed the previously announced acquisition of the Cripple Creek & Victor (CC&V) mine from Newmont Corporation NEM. This strategic move positions SSRM as the third-largest gold producer in the United States.

Located in Colorado, CC&V is a large-scale open-pit mine that has been active for more than three decades. As of Dec. 31, 2024, the mine operator, Newmont, reported gold Mineral Reserves of 2.4 million ounces for CC&V, with an additional 0.8 million ounces of Measured & Indicated Mineral Resources (exclusive of Reserves) and 0.9 million ounces of Inferred Mineral Resources. The gold Mineral Reserves indicate an 85% year-over-year surge from the 2023 reported figure.

The addition of CC&V will boost SSR Mining’s annual production by 170,000 ounces of gold.

Upbeat Production Guidance for 2025: On March 31, 2025, SSR Mining announced that it anticipates its 2025 gold equivalent ounces (GEO) production to increase more than 10% year over year. This indicates a contribution from CC&V and its Marigold Mine operations but excludes the potential contributions from the company’s Çöpler mine in Türkiye, which remains on care and maintenance.

GEO production will likely be in the range of 410,000- 480,000 ounces in 2025. SSR Mining expects 55% of its 2025 production to occur in the second half of the year, due to the timing of operations at CC&V and the grade profile at Marigold.

The Marigold mine is expected to produce 160,000-190,000 ounces of gold. The Seabee mine is expected to produce 70,000-80,000 ounces of gold. Expected silver production from the Puna mine is 8.00-8.75 million ounces. The expected gold production from the newly added CC&V mine for 2025 is 90,000 -110,000 ounces.

Solid Q1 Operational & Financial Results: On May 6, 2025, SSRM reported first-quarter 2025 adjusted earnings per share of 29 cents, which beat the Zacks Consensus Estimate of eight cents by a solid margin of 262.50%. The bottom-line figure marked a solid 164% improvement from earnings of 11 cents per share reported in the year-ago quarter. This was aided by higher average realized prices for gold and silver.

SSRM’s total revenues increased 38% year over year to $317 million during the first quarter.

Gold equivalent produced increased 2% year on year to 103,805 ounces in the reported quarter. The quarter’s operating results include contributions from the CC&V mine from Feb. 28 to March 31, 2025. Gold equivalents sold were down 4% to 104,185 ounces from the year-ago quarter.

The average realized gold price rose 42% to $2,935 per ounce from $2,061 in the year-ago quarter. The average realized silver price was $23.23 per ounce in the quarter, reflecting year-over-year growth of 46%.

Ongoing Development and Exploration Efforts: In the first quarter of 2025, SSR Mining invested $12.2 million in its Hod Maden project, focusing on engineering work and early-stage site development. The company also continued to advance exploration and development initiatives across its broader asset portfolio, aiming to identify high-return, low-capital opportunities to extend mine life at its Marigold, Seabee and Puna operations.

Rising Trend in Metal Prices: Gold prices have been on an upward trajectory in 2025, climbing 25.5% amid heightened geopolitical tensions, continued central bank buying and concerns over global trade tariffs. Silver has also posted a strong performance, rising 14.6% year to date, supported by consistent demand from the electrification sector and its appeal as a safe-haven asset.

Other Stocks to Consider

Other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and Agnico Eagle Mines AEM. Both of these stocks sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology has an average trailing four-quarter earnings surprise of 11.10%. The Zacks Consensus Estimate for the company’s 2025 earnings is pegged at $7.27 per share, indicating year-over-year growth of 53.4%. CRS shares gained 170.3% so far this year.

Agnico Eagle Mines has an average trailing four-quarter earnings surprise of 12.2%. The Zacks Consensus Estimate for Agnico Eagle Mines’ 2025 earnings is pegged at $6.03 per share, indicating 42.6% year-over-year growth. Its shares gained 51.2% year to date.

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This article originally published on Zacks Investment Research (zacks.com).

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