SSRM Closes Cripple Creek & Victor Gold Mine Buyout Deal With Newmont
SSR Mining Inc. SSRM announced that it closed its previously announced acquisition of Cripple Creek & Victor Gold Mine (“CC&V”) from Newmont Corporation NEM. The addition of CC&V positions SSR Mining as the third-largest gold producer in the United States.Details on SSR Mining-Newmont DealOn Dec. 6, 2024, the SSRM announced that it had signed a definitive purchase agreement with Newmont.CC&V is located in Colorado and has a large-scale open-pit mine that has been active for more than three decades. As of Dec. 31, 2024, CC&V’s operator, Newmont, posted gold Mineral Reserves of 2.4 million ounces for CC&V, with an additional 0.8 million ounces of Measured & Indicated Mineral Resources (exclusive of Reserves) and 0.9 million ounces of Inferred Mineral resources. The gold Mineral Reserves indicate a 85% year-over-year surge from the 2023 reported figure. SSR Mining made an initial payment of $100 million in cash to Newmont, with additional payments of up to $175 million contingent on achieving certain milestones. Prior to the end of the first quarter, SSRM will publish consolidated 2025 production and cost guidance, including attributable guidance for CC&V.SSRM’s Benefits From the TransactionThe 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.The all-cash transaction is expected to be accretive to SSR Mining's key per-share metrics and gives the company a clear path forward focused on advancing initiatives at each of its six key assets.SSR Mining’s Share Price PerformanceShares of SSR Mining have skyrocketed 128.1% over the past year against the industry’s 6.6% decline. Image Source: Zacks Investment Research SSRM’s Zacks Rank & Other Stocks to ConsiderSSR Mining currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and ArcelorMittal S.A. MT. Both companies sport a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Carpenter Technology has an average trailing four-quarter earnings surprise of 15.7%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $6.95 per share. CRS shares skyrocketed 219.3% last year.ArcelorMittal has an average trailing four-quarter earnings surprise of 4.1%. The Zacks Consensus Estimate for MT’s 2025 earnings is pegged at $3.72 per share. Its shares gained 17% last year.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want 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 ArcelorMittal (MT): Free Stock Analysis Report Newmont Corporation (NEM): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Silver Standard Resources Inc. (SSRM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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