SSR Mining Records Milestone Gold Production From Marigold Mine
SSR Mining Inc. SSRM announced that its Marigold Mine achieved gold production of five million ounces on Dec. 30, 2024. This demonstrates the quality and capabilities of the SSRM's Marigold mine.Details on SSRM’s Marigold MineMarigold has been operating continuously for more than 35 years. The mine was acquired by SSR Mining in 2014. Since then, the mine has produced 2 million ounces of gold, peaking in 2023 with 278,000 ounces of gold.SSR Mining expected $10 million in growth expenditure at the mine. As of Dec. 31, 2023, the mine had nearly 3 million ounces of Mineral Reserves. The mine has an expected life of nine years.SSR Mining’s Focus to Boost PortfolioSSRM is focused on boosting its portfolio through the operation, development, exploration and acquisition of precious metal projects. On Dec. 6. 2024, the company announced that it signed a definitive purchase agreement with Newmont Corporation NEM to acquire the Cripple Creek & Victor Gold Mine (CC&V) in Colorado. This deal will add a high-quality producing asset in a Tier-1 jurisdiction to SSR Mining’s portfolio. It will boost SSRM’s average annual gold production to 300,000-400,000 ounces, positioning it as the third-largest gold producer in the United States.Newmont expects 2024 gold production of 170,000 ounces for CC&V at a cost of sales of $1,270 per ounce and an all-in sustaining cost of $1,610 per ounce. This points to strong free cash flow margins.The addition of CC&V is anticipated to add 170,000 ounces of gold to SSR Mining’s annual production. Including SSRM’s existing Marigold operation, total annual U.S. gold production is expected to average 300,000-400,000 ounces.SSRM Stock’s Price PerformanceShares of the company have lost 32.3% over the past year compared with the industry’s 19.1% decline. Image Source: Zacks Investment Research SSR Mining’s Zacks Rank & Other Stocks to ConsiderSSRM currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and Equinox Gold Corp. EQX. CRS sports a Zacks Rank #1 (Strong Buy) at present and EQX carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Carpenter Technology has an average trailing four-quarter earnings surprise of 14.1%. The Zacks Consensus Estimate for CRS’s fiscal 2025 earnings is pegged at $6.61 per share. Its shares skyrocketed 162.7% last year.Equinox Gold has an average trailing four-quarter earnings surprise of 39.2%. The Zacks Consensus Estimate for EQX’s 2024 earnings is pegged at 43 cents per share. EQX’s shares gained 9.6% last year.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Silver Standard Resources Inc. (SSRM): Free Stock Analysis Report Equinox Gold Corp. (EQX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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