SSR Mining Inc. Q3 2026 Earnings Recap

SSR Mining rose 7.6% after earnings, with investors seemingly rewarding production that remains on track and a longer-term U.S. growth story: Marigold’s updated plan supports a 20-year reserve life, and the company announced the adjacent Converse acquisition. The key near-term offset is costs: full-year all-in sustaining costs are now expected to be approximately 10% above the top end of guidance.

Key Takeaways

• Consolidated production remains on track for full-year guidance, with management expecting a strong fourth quarter, particularly at Marigold.
• Full-year all-in sustaining costs are expected to exceed the top end of guidance by approximately 10%, driven by Puna mine-plan priorities and industry-wide cost pressures.
• Marigold’s updated plan reports 4.6 million ounces of mineral reserves, a 20-year reserve life, and average annual production above 200,000 ounces through 2040.
• SSR repurchased nearly 17 million shares in the first nine months of 2026, returning more than $530 million; including the reinstated dividend, the company said capital returns yield was approximately 10%.
• The company reported more than $1.5 billion in cash and expects the Roxmore acquisition to close by year-end; Buffalo Valley development is planned to begin in 2027, with first production expected in 2029.