Denver, Colorado — February 17, 2026 — Leads & Copy — SSR Mining Inc. (Nasdaq/TSX: SSRM) has released its consolidated financial results for the fourth quarter and full year ended December 31, 2025, along with updated Mineral Reserves and Mineral Resources (MRMR) as of the same date, and its operating guidance for 2026.
The company’s Board of Directors approved a share buyback program of up to $300 million on February 13, 2026.
Rod Antal, Executive Chairman of SSR Mining, stated that the fourth quarter of 2025 was a strong finish to the year, with full-year consolidated production above the midpoint of the company’s guidance range and AISC well aligned with expectations. He added that the company is on track to deliver a 10% year-over-year increase in gold equivalent ounce production in 2026.
Operating Results
Fourth quarter 2025 production reached 120,267 gold equivalent ounces. Consolidated cost of sales was $1,613 per payable ounce, and AISC was $2,250 per payable ounce, or $2,002 per payable ounce exclusive of costs incurred at Çöpler during the quarter.
For the full year 2025, SSR Mining produced 447,207 gold equivalent ounces. Consolidated cost of sales was $1,472 per payable ounce and AISC was $2,153 per payable ounce, or $1,923 per payable ounce exclusive of costs incurred at Çöpler.
Full-year production exceeded the midpoint of the company’s 410,000 to 480,000 gold equivalent ounce consolidated guidance range.
Financial Results
The company reported net income attributable to SSR Mining shareholders of $181.5 million, or $0.84 per diluted share, and adjusted net income attributable to SSR Mining shareholders of $190.5 million, or $0.88 per diluted share, for the fourth quarter of 2025.
For the full year 2025, net income attributable to SSR Mining shareholders was $395.8 million, or $1.85 per diluted share. Adjusted net income attributable to SSR Mining shareholders totaled $430.5 million, or $2.01 per diluted share.
SSR Mining generated $172.1 million in operating cash flow and $106.4 million in free cash flow in the fourth quarter of 2025. Full-year 2025 operating cash flow and free cash flow totaled $471.9 million and $241.6 million, respectively.
As of December 31, 2025, the company had a cash and cash equivalent balance of $534.8 million and total liquidity of $1,034.8 million, inclusive of its undrawn revolving credit facility and accompanying accordion feature.
Between 2021 and 2024, SSR Mining repurchased approximately 20 million shares at an average price of $15.76 per share.
Mineral Reserves and Resources
Total Proven and Probable Mineral Reserves as of December 31, 2025, were 11.0 million gold equivalent ounces, an increase of nearly 40% compared to year-end 2024.
Total Measured and Indicated Mineral Resources as of December 31, 2025, exclusive of Mineral Reserves, were 9.5 million gold equivalent ounces, an increase of over 80% compared to year-end 2024.
The addition of CC&V and the Hod Maden development project to consolidated totals, resource development activity, and an increase in the base gold and silver price assumptions for Mineral Reserves to $1,700 and $20.50 per ounce, respectively, contributed to the year-over-year changes in Mineral Reserves and Mineral Resources.
2026 Operating Guidance
SSR Mining anticipates production of 450,000 to 535,000 gold equivalent ounces from its Marigold, CC&V, Seabee, and Puna operations in 2026. The consolidated cost of sales is projected to be $1,560 to $1,640 per payable ounce, and AISC is expected to be $2,360 to $2,440 per payable ounce. Excluding Care & Maintenance costs at Çöpler, the company projects full-year consolidated AISC to be $2,180 to $2,260 per payable ounce.
The midpoint of the 2026 production guidance represents a 10% increase in gold equivalent ounces over 2025 results.
Çöpler
Remediation and reclamation spending at Çöpler totaled $7.4 million in the fourth quarter of 2025, bringing the total remediation spend in 2025 to $21.7 million. Since February 2024, SSR Mining has spent $149.3 million on reclamation and remediation activities at the site.
Hod Maden Development Project
SSR Mining invested $33.8 million in the Hod Maden development project during the fourth quarter of 2025, with full-year spending totaling $78.2 million. On January 29, 2026, SSR Mining announced the completion and issuance of a Technical Report Summary for the Hod Maden development project, reporting a $1.7 billion NPV5% and 39% IRR at consensus commodity prices.
Development and Exploration
Throughout 2025, SSR Mining continued to advance key brownfield organic growth projects across its portfolio, including Buffalo Valley at Marigold, Cortaderas at Puna, and Porky at Seabee. The company is also investing $35 million in growth exploration and resource development activity in 2026.
The company is listed under the ticker symbol SSRM on the Nasdaq and the TSX.
Source: SSR Mining
