SSR Mining records significant gold production from the Amaranth Mine

SSR Mining Company SSRM announced that its Marigold mine achieved a gold production of five million ounces on December 30, 2024. This demonstrates the quality and capabilities of SSRM’s Marigold mine.

Marigold has been in continuous operation for over 35 years. SSR Mining acquired the mine in 2014. Since then, the mine has produced 2 million ounces of gold, peaking in 2023 with 278,000 ounces of gold.

SSR Mining expected to spend $10 million on growth at the mine. As of December 31, 2023, the mine had approximately 3 million ounces of mineral reserves. The mine is expected to have a lifespan of nine years.

SSRM focuses on enhancing its portfolio through the operation, development, exploration and acquisition of precious metals projects.

On December 6, 2024, the company announced that it had signed a definitive purchase agreement with… Newmont Company NEM acquires Cripple Creek & Victor Gold Mine (CC&V) in Colorado. This transaction will add a high-quality producing asset in a Tier 1 region to SSR Mining’s portfolio. It will boost SSRM’s average annual gold production to 300,000-400,000 ounces, making it the third largest gold producer in the United States.

Newmont expects 2024 gold production to reach 170,000 ounces of CC&V gold at a sales cost of $1,270 per ounce and an all-in sustaining cost of $1,610 per ounce. This indicates strong free cash flow margins.

The addition of CC&V is expected to add 170,000 ounces of gold to SSR Mining’s annual production. Including SSRM’s existing Marigold operation, total annual US gold production is expected to reach 300,000-400,000 ounces.

The company’s shares lost 32.3% over the past year, compared to the industry’s decline of 19.1%.

Image source: Zacks Investment Research

SSRM currently carries a Zacks Rank #2 (Buy).

Some other top-rated stocks from the basic materials space are Najjar Technology Company CRS and Equinox Gold Company EQX. CRS has a Zacks Rank of #1 (Strong Buy) at present and EQX carries a Zacks Rank of #2. You can see The complete list of today’s Zacks #1 Rank stocks is here.

Carpenter Technology has an average Q4 earnings surprise of 14.1%. The Zacks Consensus Estimate for CRS’s fiscal 2025 earnings is set at $6.61 per share. Its shares rose 162.7% last year.

Equinox Gold had an average trailing Q4 earnings gain of 39.2%. The Zacks Consensus Estimate for EQX’s 2024 earnings is set at 43 cents per share. EQX shares rose 9.6% last year.

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