SSR Mining Reports Full-Year 2025 Results and 2026 Operating Guidance
SSR Mining Rebounds From Disaster With Production Beat And $300 Million Buyback Despite Cost Inflation
The most recent news release (February 17, 2026) reports SSR Mining’s full-year 2025 results and provides 2026 operating guidance. Key takeaways include: - 2025 production of 447,207 gold equivalent ounces (GEOs) exceeded the midpoint of the 410,000 to 480,000 ounce guidance range. - Financial performance was strong with $1.63 billion in revenue and $362.4 million in net income. - The company announced a $300 million share buyback program for the next 12 months. - Year-end 2025 Mineral Reserves increased 40% year-over-year to 11.0 million GEOs. - 2026 guidance forecasts growth to 450,000–535,000 GEOs, though All-In Sustaining Costs (AISC) are projected to rise significantly to a range of $2,360 to $2,440 per ounce. - The Hod Maden project remains a primary development focus with a reported $1.7 billion NPV (5%).
The news is Material - Positive. The company has successfully executed a turnaround following the catastrophic 2024 incident at the Çöpler mine. - Beat on Production: Exceeding the midpoint of 2025 guidance demonstrates operational stability after the acquisition and integration of the Cripple Creek & Victor (CC&V) mine. - Capital Returns: The $300 million buyback is a massive signal of confidence and suggests the company is generating sufficient free cash flow ($241.6 million in 2025) to reward shareholders while funding growth. - Reserve Growth: A 40% increase in reserves significantly de-risks the long-term mine life concerns that often plague mid-tier miners. - Cost Concerns: However, the 2026 AISC guidance ($2,360-$2,440/oz) is remarkably high, likely reflecting high royalty payments due to record gold prices and inflationary pressures in Argentina and Turkey.
SSR Mining is a mid-tier precious metals producer with operations across the Americas and Turkey. - Flagship Project (Production): Marigold (USA) and CC&V (USA). CC&V was acquired in 2025 and has already paid back its initial $100M purchase price through free cash flow. - Flagship Project (Development): Hod Maden (Turkey), a high-grade copper-gold project where SSR owns 40% and serves as operator. It is touted as one of the highest-margin undeveloped projects in the sector. - Flagship Project (Suspended): Çöpler (Turkey), which was the company’s primary asset until a fatal leach pad failure in February 2024.