Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 31 Mar, 26 | SSRM | Buy | USD 26.21 | USD 27.52 | USD 29.0 | Same day | Closed |
9.96%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
SSR Mining Inc., together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina. The company was formerly known as Silver Standard Resources Inc. and changed its name to SSR Mining Inc. in August 2017. SSR Mining Inc. was incorporated in 1946 and is based in Denver, Colorado.
Improved Revenue Contribution from Gold Segment: FY25 gold revenue contribution rose to 71% compared to FY24 67%, reflecting stronger pricing and operational focus
Strong Gold Price Realization Expansion: FY25 average gold price increased to USD 3,435 per ounce compared to FY24 USD 2,387 per ounce
Decline in Silver Revenue Contribution: FY25 silver contribution declined to 24% compared to FY24 27%, reflecting mix shift and operational dynamics
Complete Shutdown of Çöpler Operations: FY25 contribution from Çöpler declined to 0% compared to FY24 7%, significantly impacting production and revenue base
The key investment risk lies in the prolonged uncertainty surrounding the restart, regulatory approvals, and potential cost escalation associated with the Çöpler mine, which could materially impact production, cash flows, and overall profitability
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 26.21 | 23.0 | 27.52 | 29.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Revenue Mix Strengthened by Precious Metals Exposure: During FY25, SSR Mining demonstrated a strong revenue composition supported by elevated precious metal prices, particularly gold and silver. Gold continued to dominate the revenue mix, contributing approximately FY25 71% compared to FY24 67%, reflecting both favorable pricing and stable production from key operating assets. Silver contributed FY25 24% versus FY24 27%, indicating a marginal shift in product mix despite higher realized prices across commodities.
Operational Diversification Across Core Assets: The company maintained a diversified operational base across multiple geographies, with Marigold, CC&V, Seabee, and Puna collectively driving production. In FY25, Marigold contributed approximately 33% of total revenue, while CC&V and Puna each accounted for nearly 28%, highlighting balanced asset-level contribution. Notably, Çöpler contributed 0% in FY25 compared to FY24 7%, reflecting operational disruption following the incident.
Impact of Çöpler Suspension on Production Profile: Operational performance in FY25 was materially affected by the suspension of the Çöpler mine following the heap leach pad incident. The absence of output from a historically significant asset altered production mix and reduced overall scale efficiencies. Additionally, uncertainty surrounding the restart timeline and regulatory approvals continued to weigh on operational visibility.
Strong Commodity Price Environment Supporting Earnings: FY25 performance benefited from a favorable commodity price environment, with average gold prices rising to USD 3,435 per ounce in FY25 compared to USD 2,387 in FY24, while silver prices increased to USD 39.94 per ounce from USD 28.25. This pricing tailwind supported revenue realization despite operational headwinds.
Cash Flow Generation and Balance Sheet Strength: The company maintained a strong liquidity profile, supported by robust free cash flow generation exceeding USD 240 million in FY25 and total liquidity of approximately USD 1.0 billion. This financial strength enabled continued investment in growth projects and operational stability despite disruptions.
Continued Investment in Growth Projects: SSR Mining progressed strategic growth initiatives, particularly the Hod Maden project, which is expected to deliver long-term production growth with an estimated IRR of 39%. Investment in development and exploration remained aligned with long-term value creation despite near-term operational challenges.
Cost and Operational Risk Management Focus: The company continued to manage cost pressures and operational risks through diversification and disciplined capital allocation. However, rising regulatory scrutiny, remediation costs, and potential changes in operating conditions at Çöpler remain key factors influencing future performance.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to SSR Mining Inc. (NASDAQ: SSRM) at the closing market price of USD 26.21, as on Mar 30, 2026
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Gold
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SSRM SSR Mining Inc |
-0.82 2.58% | 30.95 | - | 26.81 | 0.74 | 0.31 | 0.61 | 30.70 |
| AEM Agnico Eagle Mines Limited |
-6.33 3.66% | 166.66 | 22.95 | 16.00 | 8.59 | 4.38 | 8.85 | 12.58 |
| B Barrick Mining Corporation |
-0.95 2.30% | 40.34 | 14.66 | 11.20 | 4.26 | 2.71 | 4.14 | 6.35 |
| AU AngloGold Ashanti plc |
-0.05 0.06% | 90.87 | 20.56 | 12.69 | 5.44 | 6.65 | 5.37 | 9.20 |
| NEM Newmont Goldcorp Corp |
-1.88 1.78% | 103.79 | - | 11.61 | 4.29 | 2.48 | 4.55 | 26.44 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on March 31, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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