SSR Mining Inc. (TSX: SSRM) reported today its financial results for the third quarter of 2021, highlighting a quarterly revenue of US$322.8 million. This is a decline from Q2 2021’s revenue of US$377.0 million but an increase from Q3 2020’s revenue of US$225.4 million.
The gross margin for the quarter came in at 37.9%, down from last quarter’s 41.1% but up from last year’s 36.9%. Further down, net income increased to US$62.5 million from last quarter’s US$51.6 million and last year’s US$25.1 million. The quarterly net income translates to US$0.26 earnings per diluted share.
The company ended the quarter with US$862.8 million in cash and cash equivalents, putting the balance of current assets at US$1.5 billion. Meanwhile, current liabilities came in at US$232.9 million.
The mining firm also produced a total of 186,941 gold equivalent ounces at an AISC of US$1,006 per ounce, up from last year’s 107,556 ounces at an AISC of US$1,034. The firm reiterates that its year-to-date production of 583,316 gold equivalent ounces is on track to meet the 2021 guidance. However, the AISC guidance is being lowered to US$1,000 – US$1,040 per gold equivalent ounce after year-to-date AISC of US$990 per ounce still falls below the previous guidance.
SSR Mining Inc. last traded at $19.40 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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