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SSR Mining (SSRM)

SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with a producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. In 2020, the operating assets produced approximately 711,000 gold-equivalent ounces.

Company profile

Ticker
SSRM
Exchange
CEO
Paul Benson
Employees
Location
Fiscal year end
Industry (SIC)
Former names
SILVER STANDARD RESOURCES INC
SEC CIK
Subsidiaries
0694758 B.C. Ltd. • Alacer Gold Corp. • Alacer Gold Corp. S.a.r.l. • Alacer Gold Holdings Corp. S.a.r.l. • Candelaria Mining Company • Fossores Ltd. • Intertrade Metals Corp. • Intertrade Metals Limited Partnership • M-18 Gold S.A. • Marigold Mining Company ...

SSRM stock data

Analyst ratings and price targets

Last 3 months

Calendar

1 Aug 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 973.99M 973.99M 973.99M 973.99M 973.99M 973.99M
Cash burn (monthly) 20.11M 5.03M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 26.99M 6.75M n/a n/a n/a n/a
Cash remaining 946.99M 967.24M n/a n/a n/a n/a
Runway (months of cash) 47.1 192.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Jul 22 Steward John Beckman Common Shares Sell Dispose S No Yes 16.28 5,400 87.91K 151,655
1 Jul 22 Arthur Michael Anglin Deferred Share Unit Common Shares Grant Acquire A No No 0 4,768 0 207,536
1 Jul 22 Thomas R Bates JR Deferred Share Unit Common Shares Grant Acquire A No No 0 1,589 0 81,174
1 Jul 22 Brian R Booth Deferred Share Unit Common Shares Grant Acquire A No No 0 1,878 0 48,310
13F holders Current Prev Q Change
Total holders 0 1 EXIT
Opened positions 0 1 EXIT
Closed positions 1 0 NEW
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 194.5M EXIT
Total shares 0 10.99M EXIT
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change
AustralianSuper Pty 0 -10.99M EXIT

Financial report summary

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Risks
  • Risks Related to the Company's Operations and Business
  • Changes in the market prices of gold, silver and other metals, which in the past have fluctuated widely, will affect the Company’s operations.
  • Epidemics, pandemics or other public health crises, including COVID-19, could adversely affect the Company’s business.
  • The Company may be unable to replace its mineral reserves or acquire additional commercially mineable mineral rights.
  • The Company’s estimates of mineral reserves and mineral resources are based on interpretation and assumptions and may yield less mineral production under actual conditions than is currently estimated.
  • Increased operating and capital costs could affect the Company's profitability.
  • The Company's operations may be adversely affected by rising energy prices or energy shortages.
  • Supply chain and other disruptions could adversely affect the Company's business.
  • Continuation of the Company's mining production is dependent on the availability of sufficient water supplies to support our mining operations.
  • The Company may be exposed to future development risks.
  • Land reclamation, mine closure and remediation requirements and costs may be burdensome and actual environmental and asset retirement obligations may exceed estimates and reserves.
  • The Company is subject to certain transportation risks that could have a negative impact on the Company’s ability to operate.
  • The Company may be subject to information systems security threats.
  • General economic conditions may adversely affect the Company’s growth and profitability.
  • The Company faces intense competition in the mining industry.
  • The Company may be subject to risks associated with future acquisitions.
  • The Company’s joint venture interests are subject to risks.
  • The Company’s interest in deferred consideration received from divestitures may not be fully realizable.
  • Reputation loss may result in decreased investor confidence, increased challenges in developing and maintaining community relations and an impediment to the Company’s overall ability to advance its projects, thereby having a material adverse impact on the Company’s financial performance, financial condition, cash flows and growth prospects.
  • The Company’s insurance coverage does not cover all of the Company’s potential losses, liabilities and damages related to its business and certain risks are uninsured and uninsurable.
  • The Company is exposed to market and/or counterparty risks related to the sale of its concentrates and metals.
  • Financial Risks and Risks Related to Our Indebtedness
  • The Company is subject to risks associated with its financial instruments.
  • The Company may be adversely affected by fluctuations in foreign exchange rates.
  • Inflation may have a material adverse effect on results of operations.
  • The Company may be subject to risks associated with hedging activities.
  • Future funding requirements may affect the Company's business or its ability to develop mineral properties, complete exploration and development programs, pay cash dividends or engage in share repurchase transactions.
  • The Company may be unable to generate sufficient cash to service its debt and other actions to satisfy such obligations may be unsuccessful.
  • The Company may fail to fulfill its obligations under existing and future indebtedness, and such indebtedness may impair the financial health of the Company.
  • The Company may fail to meet financial covenants related to its indebtedness.
  • Risks Related to Our Industry and the Jurisdictions in Which We Operate
  • Political or economic instability or unexpected regulatory change in the countries where the Company’s mineral properties are located could adversely affect its business.
  • Suitable infrastructure may not be available or damage to existing infrastructure may occur.
  • Mining is inherently risky and subject to conditions and events beyond the Company’s control.
  • Mining companies are increasingly required to consider and provide benefits to the communities and countries in which they operate in order to maintain operations.
  • Indigenous peoples’ title claims and rights to consultation and accommodation may affect the Company’s existing operations as well as development projects and future acquisitions.
  • Civil disobedience in certain of the countries where the Company’s mineral properties are located could adversely affect its business.
  • The Company and the mining industry face geotechnical challenges, which could adversely impact our production and profitability.
  • Risks Related to Our Personnel
  • Certain of the Company’s directors and/or officers also serve, or may serve, as directors of other companies involved in natural resource exploration and development, and consequently there exists the possibility for these directors and/or officers to be in a position of conflict.
  • The Company could be subject to potential labor unrest or other labor disturbances.
  • The Company is dependent on its ability to recruit and retain qualified personnel.
  • The Company relies on contractors to conduct a significant portion of its operations and construction projects.
  • Risks Related to Governmental Regulation and Legal Proceedings
  • The Company is subject to significant governmental regulations.
  • The Company requires permits to conduct its operations, and delays in obtaining or failing to obtain such permits, or a failure to comply with the terms of any such permits that the Company has obtained, would adversely affect the Company’s business.
  • The Company’s activities are subject to environmental laws and regulations that may increase the Company’s costs and restrict its operations.
  • Compliance with emerging climate change regulations could result in significant costs and climate change may present physical risks to a mining company’s operations.
  • The Company may be required by human rights laws to take actions that delay the Company’s operations or the advancement of its projects.
  • The Company’s mineral properties may be subject to uncertain title.
  • The Company is subject to claims and legal proceedings that arise in the ordinary course of business.
  • The Company is subject to assessment by taxation authorities in multiple jurisdictions that arise in the ordinary course of business.
  • The Company is subject to anti-corruption laws.
  • Risks Related to Ownership of Company Equity
  • The Company’s common shares are publicly traded and are subject to various factors that have historically made the Company’s common share price volatile.
  • Holders of our common shares may not receive dividends.
  • Future sales or issuances of equity securities could decrease the value of the Company’s common shares, dilute investors’ voting power and reduce the Company’s earnings per share.
  • Risks Related to Being a Public Company
  • The Company may fail to maintain adequate internal control over financial reporting pursuant to the requirements of applicable regulations.
  • Due to the loss of the Company's foreign private issuer status, the Company is now required to comply with the Exchange Act’s domestic reporting regime.
  • The Company's accounting and other estimates may be imprecise.
Management Discussion
  • (1)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Çöpler. See "Non-GAAP Financial Measures" for an explanation of these financial measures and a reconciliation to production costs, which are the comparable GAAP financial measure. For the three and six months ended June 30, 2022, cash costs and AISC per ounce of gold sold include the impact of any fair value adjustment on acquired inventories. For the three and six months ended June 30, 2021, cash costs and AISC per ounce of gold sold exclude the impact of any fair value adjustment on acquired inventories.
  • For the three months ended June 30, 2022 and 2021, Çöpler produced 51,389 and 75,754 ounces of gold, respectively. For the six months ended June 30, 2022 and 2021, Çöpler produced 122,030 and 154,232 ounces of gold, respectively. Lower production for the three and six months ended June 30, 2022, is mainly due to lower sulfide grade mined and processed as well as depleting oxide ore.
  • Production costs for the three and six months ended June 30, 2022 were $63.1 million and $125.7 million, decreases of 9.5% and 7.7%, respectively, compared to the three and six months ended June 30, 2021. Production costs per ounce sold increased 20.2% and 12.9% for the three and six months ended June 30, 2022, respectively, due primarily to higher reagent unit prices as well as lower mill grade feed.

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