SSR Mining Shares Fall After Q2 Costs Climb and Output Slips

SSR Mining (Nasdaq: SSRM) shares fell after the company reported second-quarter gold-equivalent production of 101,959 ounces from continuing operations and all-in sustaining costs of $2,622 per payable ounce, a level that pointed to continued cost pressure even as the board declared a quarterly dividend of $0.03 per share.

Market data differed on the size of the decline depending on the source, but financial news services showed the stock down on the day of the August 4 results release and weaker again in extended trading.

For the quarter ended June 30, SSR Mining reported revenue of $443.8 million, operating income of $191.7 million and net income attributable to shareholders from continuing operations of $137.0 million, or $0.66 a diluted share. Operating cash flow from continuing operations was $115.6 million and free cash flow was $50.3 million.

Production included 75,601 ounces of gold and 1.661 million ounces of silver, converted to 101,959 gold-equivalent ounces. By operation, Marigold in Nevada produced 31,059 ounces of gold at all-in sustaining costs of $3,044 per ounce, Cripple Creek & Victor in Colorado produced 27,725 ounces at $1,995 per ounce, and Seabee in Saskatchewan produced 16,817 ounces at $2,358 per ounce.

The consolidated all-in sustaining cost of $2,622 per payable ounce was above the company's earlier 2026 guidance range of $2,180 to $2,260 per gold-equivalent ounce, excluding Çöpler. It also rose from $2,068 per payable ounce in the second quarter of 2025 and from full-year 2025 all-in sustaining costs of $2,153 per payable ounce.

Production trailed the prior year. SSR Mining produced 120,191 gold-equivalent ounces in the second quarter of 2025, compared with 101,959 ounces in the latest quarter. The company maintained full-year 2026 guidance of 450,000 to 535,000 gold-equivalent ounces, leaving investors watching for a stronger second half.

The board declared a quarterly cash dividend of $0.03 per common share, payable on September 11, 2026, to shareholders of record at the close of business on August 14. The company said the dividend qualifies as an eligible dividend for Canadian tax purposes.

The payout follows a capital-return reset announced in June, when SSR Mining approved an additional $500 million share repurchase authorization and said it would reinstate a regular quarterly dividend. The company tied that policy to its balance sheet and to expected proceeds from the sale of its Çöpler mine in Turkey, a deal that would leave SSR Mining focused on assets in the Americas.

Consensus estimates cited by financial data providers varied, but both widely followed comparisons showed SSR Mining missed on revenue, and one showed adjusted earnings per share below expectations.

The question for investors is whether the company can deliver the back-half production needed to meet guidance while bringing costs closer to plan. SSR Mining remains profitable and cash generative, but the latest quarter showed that its margins depend on cost control at its remaining operating base.