SSR Mining (NYSE: SSRM) (TSX: BTO) updated 11-16-2020
(all figures stated in USD)
Market Cap: $4.2 Billion Share Price: $19.35
Shares outstanding: 219,363,000
Cash: $733.6 M as of 30 Sept 2020 + Inventory value = $391.6 Million
Debt: $334.5 M as of 30 Sept 2020
Current operations: Yes (Multiple countries; favorable jurisdictions)
Insider holdings: Low Institutional: 326 hold approx. 70% of the float
Website: ssrmining.com
CEO: Rodney Antal HQs: Vancouver, BC, Canada
Q3 highlights:
- SSR Mining produced 88,972 oz of gold and 226,858 oz thru Sept. 2020
- The company also produced 1.28 M oz of silver and 3.42 M oz thru Sept. 2020
- Net income of $25 Million, or $0.19 per share on revenue of $225.4 Million
- Non-GAAP earnings $0.49 per share
- Updated full-year 2020 production of 680,000 to 760,000 gold equivalent oz
- AISC (stated) of $965 to $1,040 per gold equivalent oz
- Finalized merger (acquisition) with Alacer Gold in Sept
- Will initiate a dividend of $0.05 per share in 1Q2021
- A merger of equals with Alacer Gold completed Sept 16 on an all-stock basis
Bottom line:
- Transitioning from silver to gold, although still produces about 7 million Ag oz per year at the Puna Mine in Argentina, largest AG mine in that country, and is keen on AG elsewhere
- Well-managed with accretive acquisitions of Marigold (2014), Seabee (2016), and Alacer (2020), and holds 9.8% interest in SilverCrest Metals (Ag in Mexico)
- https://www.newswire.ca/news-releases/ssr-mining-and-alacer-gold-complete-at-market-merger-of-equals-transaction-832480012.html
- I personally have held a +5.1% weighted position for several months, and ready to add to it
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