Assessing SSR Mining (TSX:SSRM) Valuation After Q1 Loss, CA$300m Buyback And Reaffirmed Guidance

SSR Mining (TSX:SSRM) just delivered a busy first quarter update, combining higher reported sales with a net loss, a completed CA$300 million share buyback, and reaffirmed 2026 production guidance across gold and silver.

See our latest analysis for SSR Mining.

Despite the earnings loss and completed CA$300 million buyback, SSR Mining’s share price at CA$47.62 has strong upward momentum. The stock has a 61.04% year to date share price return and a very large 1 year total shareholder return, while multi year total shareholder returns above 120% indicate that longer term holders have already seen meaningful gains.

If this update has you looking across the precious metals space, it could be worth seeing which other producers are catching attention through the 33 elite gold producer stocks

With SSR Mining trading at CA$47.62, carrying a value score of 6 and a stated intrinsic discount of 52.56%, the key question is whether the recent surge still leaves mispricing or if the market is already accounting for potential future growth.

Most Popular Narrative: 16.9% Undervalued

The most followed narrative pegs SSR Mining’s fair value at CA$57.31, above the last close at CA$47.62. This frames the recent share price strength against a higher long term earnings path.

Ongoing expansion of high grade reserves, mine life extension initiatives (e.g., at Puna and through organic opportunities at Marigold, Seabee, and CC&V), and the advancement of new projects like Hod Maden could result in higher future production volumes and extended asset lives, positively impacting long term earnings and total shareholder returns.

Read the complete narrative.

Want to see what sits behind that outlook? The narrative leans on stronger revenues, thicker margins, and a future earnings base that assumes a very specific profit level and valuation multiple.

Result: Fair Value of CA$57.31 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, the picture is not one sided, with uncertainty around the timing and outcome of the Çöpler restart, as well as ongoing reclamation liabilities, both capable of undermining the current thesis.

Find out about the key risks to this SSR Mining narrative.

Next Steps

If the mix of optimism and caution here feels familiar, it is because investors are clearly weighing both sides and moving fast. Before you decide where you stand, take a moment to review the 5 key rewards

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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