SSR Mining (SSRM) Tops Q1 EPS by 47c, Revenues Beat
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SSR Mining (NASDAQ: SSRM) reported Q1 EPS of $0.47, $0.47 better than the analyst estimate of $0.00. Revenue for the quarter came in at $366.48 million versus the consensus estimate of $100.34 million.
Rod Antal, President and CEO said, "The first quarter of 2021 represented another strong operational and financial quarter for SSR Mining as we delivered production of 196,094 gold equivalent ounces at an AISC of $1,004 per ounce and generated $77 million of free cash flow.
The operational consistency of our four operating sites combined with our peer leading free cash flow generation has allowed us to come full circle with our 2021 capital allocation program and supplement our existing $44 million per year base dividend with a sizeable share buyback program of up to $150 million. The combination of the base dividend and our share buyback program will align our peer leading free cash flow yield with our capital returns yield.
From a growth perspective, we continue to invest in and advance our large brownfield organic portfolio across Turkey, the US and Canada. At Çöpler, the flotation plant construction is on-track for commissioning mid-year and will drive stronger operational performance in the 2nd half of the year. In addition, step-out and infill drilling at Ardich continues to support resource expansion and conversion as we continue to progress this sizeable, low capital intensity asset into production by 2023. Exploration updates detailing the positive progress across targets at Marigold, Çöpler, and Seabee are expected over the course of the year."
For earnings history and earnings-related data on SSR Mining (SSRM) click here.
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