SSR Mining Inc., together with its subsidiaries, engages in the acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 5.13, read 2026-11-01
Ethical passes the values gate
Price26.48 USD
Fair value35.67
Ethical score70.0/100
Our investment reviews on this name
2026-10-18Read Distribution31.75-16.6% to today ✓Markdown gives way to Distribution
2026-10-11Read Markdown33.42-20.8% to today ✓Distribution gives way to Markdown while volume still accumulates
2026-10-02Read Distribution33.42-20.8% to today ✓Markup gives way to Distribution after a 23% rise in 13 weeks
2026-07-02Read Markup27.23-2.8% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
SSR Mining Inc. holds its Distribution at $26.48. The statistical read favours the sellers, held for 14 days.
As held on the ledger · 2026-10-30
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 14 days
Price at the screen
$26.48
Valuation
10.49 trailing · 8.71 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.97
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
6.20%
Below 33%
Interest-bearing debt is just 6.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.67%
Below 33%
Cash held in interest-bearing accounts and securities is 0.7% of assets, under the one-third limit.
Pass
Receivables
10.32%
Below 49%
Money owed to the company is 10.3% of assets, under the 49% limit.
Pass
Revenue purity
0.79%
Below 5%
Only 0.8% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
SSR Mining clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 6%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-01. It updates when the underlying figures move, and past reads are kept below.
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Today SSRM passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. A 34.7% margin of safety to the base estimate.
Where our models see it going: fair-value estimate $35.67, with a range of $35.10 to $41.02, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Gold miner looks cheap but signals a trap
Picture a miner chasing the gold price higher only for the metal to turn on a dime. SSR Mining shows an 84% revenue jump and trades at 5.3 times forward earnings with a 12% profit margin, yet those figures sit at the top of a cycle where earnings rarely stay elevated for long. The low multiple therefore reads as a warning rather than a bargain, and we pass despite the ethical screen clearing.
The business operates across volatile jurisdictions and faces unknown competitive protection, so the 35% gap to our fair value rests on assumptions that commodity prices and costs will remain friendly. ROE at 12% offers little cushion once gold softens or local rules tighten in Türkiye or Argentina.
Analyst targets sit higher, yet history shows gold producers often deliver peak earnings precisely when multiples compress. Currency swings and sudden cost inflation remain live threats. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SSRM trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-02Distribution$26.48+0.0%Entry 16
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Distribution$26.48+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31Distribution$26.48-6.3%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Distribution$28.27-4.8%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 4.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Distribution$29.68-5.1%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Distribution$31.27+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Distribution$31.27+0.0%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Distribution$31.27-1.5%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44. Since the last review it its composite score eased.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44.
2026-10-11Markdown · changed$33.42+0.0%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 99%. Our forward projection puts the odds of a 10% gain over the next month near 48%. The street (5 analysts) rates it strong buy, with a mean price target of $44.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
