SSR Mining (NASDAQ: SSRM) reported Q1 EPS of $0.14, $0.14 better than the analyst estimate of $0.00. Revenue for the quarter came in at $126.25 million versus the consensus estimate of $100.34 million.

First Quarter 2019 Highlights:

(All figures are in U.S. dollars unless otherwise noted)

• Increased production at lower costs: Achieved quarterly consolidated production of near-record 112,513 gold equivalent ounces at cash costs of $712 per payable ounce of gold sold.
• Solid financial performance: Reported positive income from mine operations at all three mines totaling $30.2 million, net income of $5.7 million and adjusted attributable net income of $17.2 million or $0.14 per share.
• Low-cost record production at the Seabee Gold Operation: Produced 31,183 ounces of gold at cash costs of $467 per payable ounce of gold sold, second lowest quarterly cash costs since acquiring the operation in 2016.
• Solid operating performance at the Marigold mine: Mined 17.3 million tonnes of material with strong gold production of 53,151 ounces at cash costs of $812 per payable ounce of gold sold.
• Doubled silver production with lower costs at Puna Operations: Produced 2.4 million ounces of silver at lower cash costs of $9.94 per payable ounce of silver sold, as we processed higher grade silver ore from the Chinchillas mine.
• Chinchillas mine ramp up substantially completed: The Chinchillas mine was substantially completed during the quarter on budget. Focus is now on achieving steady state production.
• Completed $230 million convertible notes offering: Issued $230 million aggregate principal amount of 2.50% unsecured convertible senior notes on March 19, 2019. A portion of the proceeds was used to repurchase $150 million of our outstanding $265 million 2.875% convertible notes.
• Maintained strong balance sheet: Quarter-end cash increased to $461 million.

Paul Benson, President and CEO said, "Pleasingly, we had a strong first quarter with near-record consolidated production of over 112,000 gold equivalent ounces at lower cash costs, driven by solid performance at all three operations. Seabee achieved record production at near-record low cash costs, while Puna production and costs benefited from a full quarter of processing higher grade Chinchillas ore and increasing by-product credits. As a result, we delivered another quarter of solid financial performance and are well positioned to achieve record production for 2019."

For earnings history and earnings-related data on SSR Mining (SSRM) click here.