Northwire Canada EditionTuesday, August 4, 2026
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ARTG 35.10 +4.3% STND 0.075 −11.8% AAZ 0.040 +14.3% LIFT 3.33 +0.6% LIB 0.810 +1.2% PEMC 0.050 +11.1% ELE 23.49 +7.5% AMCO 0.210 +2.4% TGOL 0.115 +9.5% SSRM 37.45 +4.5% SALT 1.51 +9.4% MON 0.650 +12.1% AZS 0.610 +28.4% NIO 0.140 +7.7% SKEL 0.180 −18.2% ERO 40.82 +8.4% ARTG 35.10 +4.3% STND 0.075 −11.8% AAZ 0.040 +14.3% LIFT 3.33 +0.6% LIB 0.810 +1.2% PEMC 0.050 +11.1% ELE 23.49 +7.5% AMCO 0.210 +2.4% TGOL 0.115 +9.5% SSRM 37.45 +4.5% SALT 1.51 +9.4% MON 0.650 +12.1% AZS 0.610 +28.4% NIO 0.140 +7.7% SKEL 0.180 −18.2% ERO 40.82 +8.4%
Earnings Material −

SSR Mining Reports Second Quarter 2026 Results

SSR’s Q2 AISC surged to $2,622/oz, exceeding guidance and shrinking free cash flow despite the Copler windfall.

By The Northwire Desk — AI Analysis Aug 04, 2026 · 16:10 SSRM · 35.84 SSR Mining Inc.
Executive Summary

SSR Mining Inc. reported second-quarter 2026 net income from continuing operations of $137.0 million, or $0.66 per diluted share, with adjusted net income matching at $137.0 million. The company generated $115.6 million in operating cash flow, while free cash flow fell to $50.3 million, a significant decline from the $210.8 million recorded in the first quarter.

Revenue for the period totaled $443.8 million, driven by the production of 101,959 gold equivalent ounces. The implied realized price was approximately $4,350 per ounce, representing a decrease of roughly 9% from the first quarter. All-In Sustaining Costs (AISC) rose to $2,622 per payable ounce, exceeding the full-year guidance range of $2,360–$2,440 per ounce.

Regarding corporate transactions, the sale of the 80% stake in Copler closed on June 24, 2026, for approximately $1.49 billion. Additionally, the sale of the 20% stake in Hod Maden was completed on July 17, 2026, in exchange for a 4.0% NSR royalty.

The board declared a quarterly dividend of $0.03 per share and announced a $500 million share buyback authorization, both of which had been previously communicated on June 15. The company’s cash and equivalents increased to $1,783.0 million, with no long-term debt outstanding. SSR Mining did not explicitly reaffirm or update its full-year 2026 production guidance in the release.

Material Impact

SSR Mining Inc. (SSRM) reported a significant deterioration in operating quality for the second quarter, with all-in sustaining costs (AISC) soaring to $2,622 per ounce, well above the guided ceiling. Free cash flow collapsed to $50.3 million from $210.8 million in the first quarter, driven by lower gold price realizations, higher costs, and working capital swings.

The company’s balance sheet remains strong, holding $1.78 billion in cash with zero debt, and it completed the divestitures of Copler and Hod Maden. However, these events were fully anticipated by the market; the stock had already risen from approximately $30 to $49 between March and May before subsequently correcting. The unanticipated negative in the results was the wide miss on costs and the sharp drop in free cash flow.

The stock declined approximately 20% from its May high to $35.84 ahead of the release, reflecting building skepticism about operational performance. This earnings print confirms those fears and is likely to pressure the stock further.

SSRM · Price
Company Overview

SSR Mining Inc. is a gold and silver producer focused on the Americas. Following the Copler and Hod Maden sales, its operating portfolio consists of:

  • Marigold (Nevada, USA) – open-pit, heap leach; production ~153‑200 koz/yr.
  • Cripple Creek & Victor (Colorado, USA) – open-pit, heap leach; acquired Feb 2025; production ~140‑155 koz/yr.
  • Seabee (Saskatchewan, Canada) – underground; ~55‑80 koz/yr.
  • Puna (Argentina) – silver‑lead‑zinc; ~8‑10 moz silver/yr.
  • Royalty portfolio including 4% NSR on Hod Maden, 1.25% NSR on Pitarrilla, 4% NSR on San Luis, and others.

The company is the third‑largest gold producer in the USA.

Read the original news release →

More from SSR Mining Inc.

Jul 17, 2026 · 08:30

SSR completes its strategic pivot to the Americas with the closing of the Hod Maden divestment as planned.

M&A / Property Jun 24, 2026 · 18:51

SSR completes the Copler divestment on schedule, advancing its Americas pivot and funding a $500 million share buyback program.

M&A / Property Jun 24, 2026 · 17:00

SSR completes the Copler divestiture following a $1.5 billion cash infusion, though market participants question the timing of potential capital returns.

M&A / Property Jun 15, 2026 · 17:00

SSR executes disciplined capital returns ahead of the Çöpler divestiture, locking in an Americas-focused strategy.

M&A / Property May 18, 2026 · 17:00

SSR Mining Exits High‑Capex Turkish Gold‑Copper Dream, Opting for a Lifetime Royalty That Halts $182M of Spending.

M&A / Property May 05, 2026 · 16:10

SSR Mining Clears Debt, Locks in $1.5B Çöpler Sale

Earnings