Stock Analysis

SSR Mining (TSX:SSRM): Reassessing Valuation After Strong Q3 Results and Updated Production Guidance

SSR Mining (TSX:SSRM) grabbed attention after its third quarter results for 2025, delivering a big jump in both revenue and profit. The company’s performance was solid, but management signaled a cautious production outlook going forward.

See our latest analysis for SSR Mining.

SSR Mining’s share price is still up a staggering 170% year-to-date, but investors felt the sting of the 11.8% drop over the past week after management lowered production guidance for the year. While momentum has cooled in the short term, long-term total shareholder returns remain impressive at over 250% for the past year as strategic acquisitions and ongoing growth projects continue to support optimism around the stock.

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With shares trading at a noticeable discount to analyst price targets and robust financials on the books, the real question is whether SSR Mining’s future growth is already reflected in the share price or if there is still a compelling buying opportunity for investors.

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Most Popular Narrative: 28% Undervalued

SSR Mining’s most widely followed valuation narrative assigns a fair value of CA$38.96, which is 28% above the last closing price of CA$27.98. This narrative points to strengthening gold prices and operational tailwinds as key drivers supporting a significantly higher valuation.

Ongoing expansion of high-grade reserves, mine life extension initiatives (for example, at Puna and through organic opportunities at Marigold, Seabee, and CC&V), and the advancement of new projects like Hod Maden could result in higher future production volumes and extended asset lives, positively impacting long-term earnings and total shareholder returns.

Read the complete narrative.

Want to unpack what’s behind this bold outlook? Find out which ambitious financial forecasts and production growth assumptions are shaping this premium fair value. The largest swing factor is how forthcoming project milestones and the company’s evolving asset base could supercharge earnings in ways few expect. Do not miss the full story behind these numbers.

Result: Fair Value of $38.96 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent regulatory delays at the Çöpler mine and higher-than-expected remediation costs could undermine SSR Mining’s bullish outlook in the medium term.

Find out about the key risks to this SSR Mining narrative.

Build Your Own SSR Mining Narrative

If you see things differently or want to dig deeper, you can explore the numbers yourself and develop a unique perspective on SSR Mining’s story in just a few minutes. Do it your way

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding SSR Mining.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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