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SSRM

SSR Mining TSX:SSRM Stock Report

Last Price

CA$18.45

Market Cap

CA$3.8b

7D

0.9%

1Y

-0.5%

Updated

24 Sep, 2022

Data

Company Financials +
SSRM fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends3/6

SSRM Stock Overview

SSR Mining Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas.

SSR Mining Competitors

Price History & Performance

Summary of all time highs, changes and price drops for SSR Mining
Historical stock prices
Current Share PriceCA$18.45
52 Week HighCA$31.00
52 Week LowCA$17.01
Beta1.04
1 Month Change-2.59%
3 Month Change-23.92%
1 Year Change-0.54%
3 Year Change-7.15%
5 Year Change39.56%
Change since IPO2,265.38%

Recent News & Updates

Shareholder Returns

SSRMCA Metals and MiningCA Market
7D0.9%-4.9%-4.8%
1Y-0.5%-15.5%-7.2%

Return vs Industry: SSRM exceeded the Canadian Metals and Mining industry which returned -15.5% over the past year.

Return vs Market: SSRM exceeded the Canadian Market which returned -7.2% over the past year.

Price Volatility

Is SSRM's price volatile compared to industry and market?
SSRM volatility
SSRM Average Weekly Movement4.9%
Metals and Mining Industry Average Movement11.4%
Market Average Movement9.9%
10% most volatile stocks in CA Market18.3%
10% least volatile stocks in CA Market3.8%

Stable Share Price: SSRM is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SSRM's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19462,429Rod Antalhttps://www.ssrmining.com

SSR Mining Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

SSR Mining Fundamentals Summary

How do SSR Mining's earnings and revenue compare to its market cap?
SSRM fundamental statistics
Market CapCA$3.81b
Earnings (TTM)CA$421.27m
Revenue (TTM)CA$1.91b

9.0x

P/E Ratio

2.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SSRM income statement (TTM)
RevenueUS$1.41b
Cost of RevenueUS$622.21m
Gross ProfitUS$783.58m
Other ExpensesUS$473.03m
EarningsUS$310.55m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.50
Gross Margin55.74%
Net Profit Margin22.09%
Debt/Equity Ratio8.0%

How did SSRM perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

16%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is SSRM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SSRM?

Other financial metrics that can be useful for relative valuation.

SSRM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2x
Enterprise Value/EBITDA4.2x
PEG Ratio-1.4x

Price to Earnings Ratio vs Peers

How does SSRM's PE Ratio compare to its peers?

SSRM PE Ratio vs Peers
The above table shows the PE ratio for SSRM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average32.6x
TFPM Triple Flag Precious Metals
40.9x7.7%CA$2.5b
BTO B2Gold
8.5x-19.2%CA$4.4b
EDV Endeavour Mining
30.8x27.2%CA$6.0b
AGI Alamos Gold
50.3x27.2%CA$3.6b
SSRM SSR Mining
9x-6.6%CA$3.8b

Price-To-Earnings vs Peers: SSRM is good value based on its Price-To-Earnings Ratio (9x) compared to the peer average (32.6x).


Price to Earnings Ratio vs Industry

How does SSRM's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

Price-To-Earnings vs Industry: SSRM is good value based on its Price-To-Earnings Ratio (9x) compared to the Canadian Metals and Mining industry average (9.1x)


Price to Earnings Ratio vs Fair Ratio

What is SSRM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SSRM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9x
Fair PE Ratio9.4x

Price-To-Earnings vs Fair Ratio: SSRM is good value based on its Price-To-Earnings Ratio (9x) compared to the estimated Fair Price-To-Earnings Ratio (9.4x).


Share Price vs Fair Value

What is the Fair Price of SSRM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SSRM (CA$18.45) is trading below our estimate of fair value (CA$25.93)

Significantly Below Fair Value: SSRM is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is SSR Mining forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-6.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SSRM's earnings are forecast to decline over the next 3 years (-6.6% per year).

Earnings vs Market: SSRM's earnings are forecast to decline over the next 3 years (-6.6% per year).

High Growth Earnings: SSRM's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SSRM's revenue is expected to decline over the next 3 years (-0.9% per year).

High Growth Revenue: SSRM's revenue is forecast to decline over the next 3 years (-0.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SSRM's Return on Equity is forecast to be low in 3 years time (4.4%).


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Past Performance

How has SSR Mining performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


48.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SSRM has high quality earnings.

Growing Profit Margin: SSRM's current net profit margins (22.1%) are lower than last year (23.3%).


Past Earnings Growth Analysis

Earnings Trend: SSRM's earnings have grown significantly by 48.3% per year over the past 5 years.

Accelerating Growth: SSRM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SSRM had negative earnings growth (-0.6%) over the past year, making it difficult to compare to the Metals and Mining industry average (-8.3%).


Return on Equity

High ROE: SSRM's Return on Equity (8.8%) is considered low.


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Financial Health

How is SSR Mining's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SSRM's short term assets ($1.6B) exceed its short term liabilities ($226.4M).

Long Term Liabilities: SSRM's short term assets ($1.6B) exceed its long term liabilities ($816.4M).


Debt to Equity History and Analysis

Debt Level: SSRM has more cash than its total debt.

Reducing Debt: SSRM's debt to equity ratio has reduced from 22.8% to 8% over the past 5 years.

Debt Coverage: SSRM's debt is well covered by operating cash flow (132.8%).

Interest Coverage: SSRM's interest payments on its debt are well covered by EBIT (33.8x coverage).


Balance Sheet


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Dividend

What is SSR Mining current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.06%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SSRM's dividend (2.06%) is higher than the bottom 25% of dividend payers in the Canadian market (2.05%).

High Dividend: SSRM's dividend (2.06%) is low compared to the top 25% of dividend payers in the Canadian market (5.95%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, SSRM has been paying a dividend for less than 10 years.

Growing Dividend: SSRM's dividend payments have increased, but the company has only paid a dividend for 2 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (16.4%), SSRM's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (17.8%), SSRM's dividend payments are well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Rod Antal (55 yo)

2yrs

Tenure

US$5,572,402

Compensation

Mr. Rodney P. Antal, also known as Rod, B.Bus., Accountancy, CPA, serves as President and Chief Executive Officer at SSR Mining Inc. since September 2020 and serves as its Director since September 16, 2020...


CEO Compensation Analysis

Compensation vs Market: Rod's total compensation ($USD5.57M) is above average for companies of similar size in the Canadian market ($USD3.55M).

Compensation vs Earnings: Rod's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: SSRM's management team is not considered experienced ( 2 years average tenure), which suggests a new team.


Board Members

Experienced Board: SSRM's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SSRM insiders have only sold shares in the past 3 months.


Recent Insider Transactions

TSX:SSRM Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
08 Sep 22SellCA$12,161Russell FarnsworthIndividual668CA$18.20
10 Jun 22SellCA$639,905Rodney AntalIndividual25,000CA$25.60
10 Jun 22SellCA$114,415Michael SparksIndividual4,470CA$25.60
10 Jun 22SellCA$88,072F. FaridIndividual3,488CA$25.25
04 Apr 22BuyCA$7,003Arthur Edward AnglinIndividual306CA$27.32
31 Mar 22SellCA$116,358Alison WhiteIndividual4,223CA$27.55
05 Jan 22SellCA$827,783F. FaridIndividual37,301CA$22.19
05 Jan 22SellCA$383,699Michael SparksIndividual17,290CA$22.19
05 Jan 22SellCA$2,230,648Rodney AntalIndividual100,516CA$22.19
05 Jan 22SellCA$686,819Stewart BeckmanIndividual30,949CA$22.19
05 Jan 22SellCA$2,233,466Rodney AntalIndividual100,516CA$22.22
05 Jan 22SellCA$687,687Stewart BeckmanIndividual30,949CA$22.22
05 Jan 22SellCA$384,184Michael SparksIndividual17,290CA$22.22
05 Jan 22SellCA$828,828F. FaridIndividual37,301CA$22.22

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 59.77% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
13.99%
BlackRock, Inc.
28,903,483$533.3m11.1%0.01%
10.56%
Van Eck Associates Corporation
21,809,715$402.4m-2.31%0.62%
5.32%
AustralianSuper Pty. Ltd.
10,988,421$202.7m0%0.59%
3.58%
The Vanguard Group, Inc.
7,398,862$136.5m0%no data
2.84%
Mackenzie Financial Corporation
5,858,969$108.1m-3.91%0.1%
2.3%
Mirae Asset Global Investments Co., Ltd
4,751,380$87.7m31.38%0.1%
1.95%
Franklin Resources, Inc.
4,025,756$74.3m7.16%0.02%
1.79%
RBC Global Asset Management Inc.
3,698,670$68.2m-2.77%0.04%
1.61%
Renaissance Technologies LLC
3,319,543$61.2m32.3%0.06%
1.52%
American Century Investment Management Inc
3,143,034$58.0m34.36%0.03%
1.51%
Paulson & Co. Inc.
3,120,242$57.6m0%1.9%
1.33%
Sprott Asset Management LP
2,747,246$50.7m-1.36%1.92%
1.23%
Ninety One UK Limited
2,535,665$46.8m-11.06%0.06%
1.21%
Norges Bank Investment Management
2,493,182$46.0m0%no data
1.12%
Invesco Ltd.
2,307,723$42.6m5.45%0.01%
0.94%
Baker Steel Capital Managers LLP
1,932,000$35.6m-41.1%3.35%
0.85%
State Street Global Advisors, Inc.
1,751,283$32.3m0%no data
0.84%
Connor, Clark & Lunn Investment Management Ltd.
1,736,505$32.0m5.96%0.14%
0.84%
BMO Asset Management Corp.
1,731,755$32.0m4.92%0.01%
0.82%
Dimensional Fund Advisors LP
1,696,602$31.3m15.27%0.01%
0.82%
Principal Global Investors, LLC
1,683,902$31.1m-13.1%0.02%
0.79%
ETF Managers Group LLC
1,624,472$30.0m-33.69%0.61%
0.75%
TD Asset Management, Inc.
1,557,225$28.7m-1.53%0.02%
0.64%
Amundi Asset Management
1,329,437$24.5m2.81%0.01%
0.64%
Manulife Asset Management
1,324,228$24.4m-8.11%0.02%

Company Information

SSR Mining Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: SSR Mining Inc.
  • Ticker: SSRM
  • Exchange: TSX
  • Founded: 1946
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: CA$3.811b
  • Shares outstanding: 206.58m
  • Website: https://www.ssrmining.com

Number of Employees


Location

  • SSR Mining Inc.
  • 6900 E. Layton Avenue
  • Suite 1300
  • Denver
  • Colorado
  • 80237
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SSRMNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJan 1980
SSRMTSX (The Toronto Stock Exchange)YesCommon SharesCACADJan 1980
ZSVDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1980
0VGELSE (London Stock Exchange)YesCommon SharesGBCADJan 1980
ZSV1DB (Deutsche Boerse AG)NPV CDI 1:1DEEURSep 2020
SSRASX (Australian Securities Exchange)NPV CDI 1:1AUAUDSep 2020
SSRCHIA (Chi-X Australia)NPV CDI 1:1AUAUDSep 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.