SSR Mining (SSRM) Reports Q1 Adjusted EPS Beat

SSR Mining Inc. (NASDAQ:SSRM) is one of the 8 Best American Mining Stocks to Buy Right Now.

SSR Mining Inc. (NASDAQ:SSRM) reported Q1 adjusted EPS of $1.15, versus the consensus estimate of 80c. Revenue totaled $581.78M, versus the consensus estimate of $533.68M. Executive Chairman Rod Antal said the first quarter marked a significant milestone for the company following its definitive agreement to sell its ownership interest in Copler for $1.5B in cash. Antal added that the transaction, together with the company’s acquisition of Cripple Creek & Victor last year, positions SSR Mining as a stronger Americas-focused producer with renewed free cash flow generation capacity.

The company generated $300M in operating cash flow and $211M in free cash flow during the quarter. SSR Mining Inc. (NASDAQ:SSRM) also said it returned $300M to shareholders through share repurchases after quarter-end. Antal stated that the company is now in the strongest financial position in its history and expects its lower-risk, Americas-focused platform to support a premium valuation as it re-establishes itself as a leading mid-cap gold producer.

SSR Mining (SSRM) Reports Q1 Adjusted EPS Beat

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Following the earnings report, UBS has raised the firm’s price target on SSR Mining Inc. (NASDAQ:SSRM) to $44 from $43 previously while maintaining a Buy rating on the shares. Last month, Scotiabank analyst Ovais Habib raised the firm’s price target on SSR Mining Inc. (NASDAQ:SSRM) to C$55 from C$50 previously and maintained an Outperform rating on the shares.

SSR Mining Inc. (NASDAQ:SSRM) acquires, explores, and develops precious metal resource properties across the United States, Türkiye, Canada, and Argentina.

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