SSR Mining Inc. (SSRM) Stock Price & How to Invest

SSR Mining Inc. (Nasdaq and TSX: SSRM) is a precious metals producer headquartered in Denver, Colorado. Following a full exit from Turkey in mid-2026, its producing portfolio sits entirely in the Americas: Marigold, a large open-pit heap-leach gold mine in Nevada; Cripple Creek & Victor (CC&V) in Colorado, bought from Newmont in February 2025 and adding roughly 170,000 ounces of annual gold production; Seabee, a high-grade underground gold mine in Saskatchewan; and Puna in Argentina, which produces silver, lead and zinc concentrates. Year-end 2025 mineral reserves totalled about 11 million gold equivalent ounces, up roughly 40 percent year over year, and 2026 guidance calls for 450,000 to 535,000 gold equivalent ounces on a second-half-weighted profile.

The investment picture changed sharply in 2026. SSR sold its 80 percent interest in the Çöpler mine in Turkey to Cengiz Holding for about $1.49 billion in cash (closed June 24, 2026) and swapped its 20 percent Hod Maden stake with Lidya Mines for an uncapped 4.0 percent net smelter returns royalty (closed July 17, 2026). That left roughly $1.78 billion of cash and no long-term debt at June 30, 2026, against a market capitalization near $5.5 billion. Management has been aggressive with capital returns, repurchasing about $409 million of stock year to date through Q2, authorizing another $500 million buyback in June, and reinstating a quarterly dividend of $0.03 per share in August 2026 after suspending it in the wake of the 2024 Çöpler incident. The offset is cost pressure: consolidated all-in sustaining costs of about $2,622 per payable ounce in Q2 2026 are high for the sector, and full-year AISC is trending toward the top of guidance.

SSR's revenue and earnings swing with gold and silver prices it does not control, and both metals are near historically elevated levels, so a retrace would compress margins quickly. Costs are the visible pressure point: consolidated AISC of roughly $2,622 per payable ounce in Q2 2026 is high versus mid-tier peers, Marigold alone ran about $3,044 per ounce, and full-year AISC is trending toward the top end of the $2,360 to $2,440 guidance range. The February 13, 2024 heap leach pad slip at the Çöpler mine in Turkey killed nine workers, suspended the operation and cut the share price roughly 54 percent in a single day; it triggered US securities class actions (a Colorado federal court dismissed the amended complaint in July 2026 on the grounds that scienter was not adequately pleaded) and a proposed Canadian class action, and residual legal, regulatory and reputational exposure persists even though the asset has been sold. Puna sits in Argentina, which carries currency, export and political risk, and CC&V comes with closure obligations under which SSR funds 10 percent of any incremental costs above a $500 million threshold. Q2 2026 revenue of about $443.8 million and adjusted EPS of $0.66 both missed consensus, and production is second-half weighted, so execution against guidance is not yet proven for the year.

5 analysts publish price targets on SSRM, averaging $41.40 against a $29.00 price as of August 2026, or +42.8%. The published targets run from $39.00 to $48.00, a narrow spread, and the ratings split 10 buy, 0 hold, 0 sell. Over the last six months there have been 2 raises and 5 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full SSRM forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on SSR Mining Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. A cash pile with no debt against it. The Çöpler sale converted a suspended, litigated asset into roughly $1.49 billion of cash, leaving about $1.78 billion on the balance sheet at June 30, 2026 and no long-term debt. The most optimistic published target, $48.00, assumes this works close to its best case.

The case against. SSR's revenue and earnings swing with gold and silver prices it does not control, and both metals are near historically elevated levels, so a retrace would compress margins quickly. The most pessimistic target, $39.00, is roughly what SSRM is worth if this bites instead.

Read the full bull and bear case on SSRM, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see SSR Mining Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$1.9 billion
• Q2 2026 revenue: ~$443.8 million, up ~9.5% year over year but below consensus
• Q2 2026 net income / diluted EPS: ~$137.0 million, ~$0.66 per share
• Cash and long-term debt: ~$1.78 billion cash, no long-term debt (June 30, 2026)
• Market cap and P/E: ~$5.5 billion at ~$29 per share, trailing P/E ~23
• Dividend: reinstated August 2026 at ~$0.03 per quarter (~$0.12 annualized, ~0.4% yield)

SSRM's trailing multiple is distorted by the Turkish divestiture and by a gold price well above the level that set its cost base, so trailing earnings are a poor guide to a normal year. A cleaner frame is enterprise value: about $1.78 billion of the roughly $5.5 billion market capitalization is cash, so the operating business is being valued at a far smaller figure than the headline. Free cash flow of about $299.1 million in the first half of 2026, more than double the prior-year period, is the number the market reacted to when shares rose sharply on the Q2 print despite the revenue and EPS miss. Figures are approximate and move with metal prices; verify current numbers before relying on them.

If you want SSRM exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to SSRM: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get SSRM exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (SIL, SILJ, SLVP), which spreads the position across many companies. Or build it into a focused thematic portfolio, so SSRM sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where SSRM fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

SSR Mining is a mid-tier Americas gold and silver producer that traded a troubled Turkish mine for a very large cash pile, so the story now turns on whether it converts that cash into production growth while gold prices stay elevated.

Whether SSRM is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is SSRM a buy or a sell?, and where the stock could go from here in the SSRM stock forecast.

For income investors, whether SSRM pays a dividend and how the payout looks is covered in does SSRM pay a dividend? And to weigh SSRM against a peer, read the full side-by-side comparisons: SSRM vs EGO and SSRM vs IAG.