5 Best Silver Mining Stocks in 2021

2. SSR Mining Inc. (NASDAQ: SSRM)

Number of Hedge Fund Holders: 20

SSR Mining Inc. (NASDAQ: SSRM) is a free cash flow-focused mining company with four producing assets located in the U.S., Canada, Turkey, and Argentina. The company mainly produces gold, silver, zinc, and tin, and has the largest silver mine in Argentina. In 2019, the four mining assets of SSR Mining Inc. (NASDAQ: SSRM) produced over 7.7 million ounces of silver. It ranks second on our list of the best silver mining stocks in 2021.

Recently, Canaccord listed SSR Mining Inc. (NASDAQ: SSRM) as its Top Pick in the mid-cap precious metals space. The firm lifted its price target on the company to C$25, with a ‘Buy’ rating on the shares. In Q2 2021, SSR Mining Inc. (NASDAQ: SSRM) posted an EPS of $0.46, beating the consensus by $0.06. The company reported revenue of $$377 million, up 307% from the prior-year quarter.

As of Q2 2021, 20 hedge funds have positions in SSR Mining Inc. (NASDAQ: SSRM), up from 16 in the previous quarter. The total value of these stakes is $204.7 million.

Palm Valley Capital released its Q1 2021 investor letter and mentioned SSR Mining Inc. (NASDAQ: SSRM) in it. Here is what the firm has to say:

“As precious metals and precious metal miners underperformed during the quarter, several of the mining stocks on our possible buy list became more attractively priced. After declining 33% from the beginning of the year, we purchased SSR Mining, an intermediate gold company with four producing mines located in the United States, Turkey, Canada, and Argentina. In 2021, the company expects to produce 720,000 to 800,000 gold-equivalent ounces with all-in sustaining costs of $1,050 to $1,110 per ounce. At current gold prices, we expect SSR Mining to generate meaningful free cash flow this year, adding to its cash balance. Currently, the company’s balance sheet is very strong and liquid with $470 million in net cash, $1.2 billion in net working capital, and $3.9 billion in tangible book value. We were happy to purchase SSR Mining at a discount to our valuation of its net assets. In addition to being cheap, we think it’s a nice inflation hedge.”