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.

While we acknowledge the risk and potential of SSRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SSRM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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