SSR Mining (TSX:SSRM) Valuation in Focus After Record Q2 Profits, Guidance Reaffirmed, and Puna Mine Update

If you are tracking SSR Mining (TSX:SSRM), this week’s news probably caught your eye. The company just posted record net and adjusted net income for the second quarter of 2025, thanks to robust production and solid cash flow. In addition, management has maintained its full-year production guidance, highlighted continued progress at the Hod Maden project, and revealed greater silver output at Puna, which means the mine’s life has been extended. While there is still uncertainty around when Çöpler will restart due to higher reclamation costs, most of the headline signals point toward operational momentum and ongoing portfolio expansion.

Looking at SSR Mining’s stock price, momentum has picked up sharply. Shares are up 28% in the past month and have gained 65% over the past 3 months, showing a clear surge in investor confidence following the positive results and operating updates. Despite some volatility earlier in the year, the stock has returned close to 277% over the past year and maintains a modest gain over longer time frames. These recent developments now place SSR Mining in the spotlight, especially as investors weigh the sustainability of its current growth streak.

With this latest round of good news and the jump in share price, some investors may wonder whether SSR Mining is trading at a discount to its intrinsic value or if the market is already factoring in its future production and expansion plans.

Most Popular Narrative: 28% Overvalued

According to the most popular analyst narrative, SSR Mining is currently priced well above its fair value, with the latest analyst consensus suggesting the stock trades at a sizable premium. This view incorporates analysts’ assumptions about the company’s profitability going forward, operational momentum, and risks related to assets in complex jurisdictions.

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. This would positively impact long-term earnings and total shareholder returns. Investments in operational efficiencies, technology upgrades, and disciplined capital allocation, evidenced by strong integration of recent acquisitions and careful management of remediation costs, are expected to lower all-in sustaining costs and improve net margins and cash flow resilience over the long term.

Curious why analysts think SSR Mining is poised for transformation? Behind the high price tag are aggressive assumptions about earnings breakthroughs, rising margins, and more asset productivity. Yet only a few key numbers drive everything. Want to know the forecasted profit surge or just how bold analysts are betting on future growth? You’ll have to dig deeper for the details fueling this punchy valuation.

Result: Fair Value of CA$23.14 (OVERVALUED)

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

However, persistent uncertainty around Çöpler’s restart and mounting reclamation costs could quickly shift sentiment if these issues remain unresolved.

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

Another View: Discounted Cash Flow Verdict

Looking from a different angle, our DCF model currently suggests the company trades below its fair value. This stands in sharp contrast to the analyst consensus. Could this model be seeing potential others have missed?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out SSR Mining for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

Build Your Own SSR Mining Narrative

If you have your own perspective or want to check the figures firsthand, you can craft an independent analysis in just a few minutes. Do it your way.

A great starting point for your SSR Mining research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

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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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