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Dec 31, 2025
SSR Mining Q4 2025 Earnings Report
SSR Mining reported its Q4 2025 earnings with strong production and financial results, exceeding midpoint guidance and demonstrating significant growth in mineral reserves.
Key Takeaways
SSR Mining Inc. reported robust financial and operating results for the fourth quarter and full-year ended December 31, 2025. The company exceeded the midpoint of its annual production guidance, achieving 447,207 gold equivalent ounces for the full year. Net income attributable to shareholders for Q4 2025 was $181.5 million, with diluted EPS of $0.84. The company also announced a significant increase in mineral reserves, up nearly 40% year-over-year, and approved a $300 million share buyback program.
Q4 2025 production reached 120,267 gold equivalent ounces, contributing to a full-year total of 447,207 GEOS, which is above the midpoint of annual guidance.
The company reported strong financial performance in Q4 2025, with $172.1 million in operating cash flow and $106.4 million in free cash flow.
Mineral Reserves saw a substantial increase of nearly 40% year-over-year, totaling 11.0 million gold equivalent ounces as of December 31, 2025.
SSR Mining's Board of Directors approved a new share buyback program of up to $300 million, reflecting confidence in future cash flow projections and growth opportunities.
Revenue by Geographic Location
Forward Guidance
For 2026, SSR Mining anticipates a 10% year-over-year increase in gold equivalent ounce production, with consolidated guidance of 450,000 to 535,000 GEOS. The company expects strong free cash flow generation and continued investment in organic growth initiatives across its portfolio.
Positive Outlook
- 2026 production guidance of 450,000 to 535,000 gold equivalent ounces represents a 10% year-over-year increase over 2025 results.
- Consolidated production in 2026 is expected to be 55% to 60% weighted to the second half, driven by higher grades at Marigold and CC&V.
- The company plans to invest $35 million in growth exploration and resource development activity in 2026 to identify and advance growth targets.
- Development capital spend at CC&V is expected to total $55 million in 2026, primarily for expansions to existing valley leach facilities.
- Growth expenditures at Seabee are expected to total $15 million in 2026, advancing near-mine drilling exploration and engineering at Porky.
Challenges Ahead
- AISC are expected to be highest in the first half of 2026, reflecting higher sustaining capital outlays across the portfolio.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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