In its second-quarter 2026 results, SSR Mining reported a net income of $137 million, producing 101,959 gold equivalent ounces at $2,622 per payable ounce in all-in sustaining costs. This performance followed a strategic shift in operations to focus solely on the Americas, along with a significant return of capital to shareholders through buybacks. Year-to-date, the company had already returned $409.2 million to shareholders via repurchases.
For the first half of the year, SSR Mining produced 211,873 gold equivalent ounces, with all-in costs averaging $2,521 per payable ounce. While the second-half outlook for production remained stable, full-year all-in sustaining costs are moving closer to the upper end of the company’s initial guidance range. The company still anticipates meeting its annual production target of 450,000 to 535,000 gold equivalent ounces.
Capital Returns and Liquidity
SSR Mining declared a quarterly cash dividend of $0.03 per common share, set to be paid on September 11, 2026, to shareholders of record on August 14, 2026. In addition to the dividend, the company executed $409.2 million in buybacks year-to-date, with an effective shareholder yield of nearly 8%. On June 15, 2026, SSR Mining announced an additional $500 million in repurchase capacity. By July 31, 2026, $109.2 million of that had already been distributed to shareholders.
As of June 30, 2026, SSR Mining had a robust cash and liquidity position. It held $1,783 million in cash and cash equivalents. There was no long-term debt outstanding. To support future operations, the company expanded its revolving credit facility. The expansion increased it from $400 million to $600 million. The new facility extends to July 31, 2030. It includes improved terms with a reduced interest rate. The rate is the Secured Overnight Financing Rate plus an applicable margin. The margin ranges from 1.75% to 2.5%. This is down from the previous 2.00% to 2.75%.
Strategic Refocus to Americas Completed
SSR Mining finalized its strategic refocus to the Americas. It sold its 80% ownership in the Çöpler mine in Türkiye. The sale was for $1.49 billion in cash on June 24, 2026. Shortly after, on July 17, 2026, the company sold its 20% stake. It sold it in the Hod Maden development project. This secured a 4.0% net smelter return royalty. The royalty is on 100% of the asset. These transactions marked the culmination of the company’s transformation. The transformation is into a gold and silver producer. It is now focused entirely on operations in the Americas.
The refocused portfolio includes SSR Mining’s long-lived operations in the United States. The company is also advancing organic growth. It does this through key brownfield projects. These include Buffalo Valley at Marigold, Cortaderas at Puna, and Porky at Seabee. These projects are designed to extend mine lifespans. They do this at low cost and with high returns. Additionally, SSR Mining made a strategic investment. It acquired 9.9% of Phenom Resources Corp.’s outstanding shares. The investment was approximately C$5 million. It also entered into a Framework Agreement. The agreement is for a potential 15% interest in Phenom’s Dobbin Project in Nevada. The additional investment would be $4 million. Exploration drilling at Dobbin began in the third quarter. It is supported by a strong gold-in-soil anomaly. There was also promising chip sampling.
This refocus has allowed us to strengthen our operational foundation. It also allows us to return value to our shareholders. The company’s actions have positioned it for a stronger financial base. They are building on this base to drive growth. Growth comes through exploration and mine-life extensions.
SSR Mining’s second-quarter 2026 operating cash flow totaled $115.6 million, while free cash flow stood at $50.3 million. In the first half of the year, the company recorded $420.5 million in operating cash flow and $299.1 million in free cash flow. These figures underscore the company’s ability to generate substantial liquidity while managing expenses and capital expenditures effectively.
For the year 2026, the company has returned nearly $900 million to shareholders through share repurchases and dividends. Including over 32 million shares repurchased and more than $170 million in dividends since 2021, SSR Mining has demonstrated a consistent and aggressive capital return strategy to reward investors.
SSR Mining continues to align its business with strategic initiatives that include both short-term performance and long-term sustainability. The company remains committed to its vision of a free-cash-flow-focused Americas-based operation, supported by a strong balance sheet and a disciplined approach to capital allocation.
With the completion of the strategic shift to the Americas and the strengthening of its financial position, SSR Mining is well-positioned to navigate the evolving market and deliver on its growth and profitability goals.