Abstract

SSR Mining Inc will report fiscal results on February 17, 2026 Post Market. This preview consolidates the latest company forecasts and Street expectations for revenue, margins, net income, and adjusted EPS, and frames the key drivers and risks that could shape the print and guidance.

Market Forecast

Consensus for the current quarter points to revenue of $420.35 million, EBIT of $148.07 million, and EPS of $0.52, reflecting an estimated year-over-year revenue growth of 56.85% and positive EPS growth. Margin expectations embed continued improvement, with company-model estimates implying expansion in gross profitability and operating leverage; detailed gross margin and net margin forecasts were not provided. The company’s main business remains its flagship gold operations across Marigold, Çöpler/Puna/Pirquitas, Seabee, and Cripple Creek & Victor, with growth focus centered on production stabilization and unit-cost normalization; the segment with the largest upside appears to be Marigold given recent throughput performance and contribution scale.

Last Quarter Review

In the previous quarter, SSR Mining Inc delivered revenue of $385.84 million, a gross profit margin of 47.39%, GAAP net income attributable to shareholders of $65.44 million, a net profit margin of 16.96%, and adjusted EPS of $0.32, alongside a quarter-on-quarter net profit decline of 27.35%. A key financial highlight was better-than-expected topline against consensus estimates, though profitability moderated sequentially. By business line, revenue was led by Marigold at $130.69 million, Pirquit at $125.35 million, Cripple Creek & Victor at $98.25 million, and Seabee at $31.54 million, with Marigold contributing the largest share; year-over-year growth by segment was not disclosed.

Current Quarter Outlook

Core gold operations and revenue trajectory

The core gold portfolio is expected to anchor results, with revenue projected at $420.35 million and EBIT at $148.07 million. The forecast implies a material year-over-year acceleration as production normalizes and realized prices remain supportive relative to last year’s average. Operating leverage should improve on steadier throughput and lower unit costs across key mines, though the degree of uplift will still be sensitive to metal prices, grade profiles, and any planned maintenance or weather-related downtime. With adjusted EPS estimated at $0.52, earnings quality will likely reflect stable depreciation and amortization and manageable sustaining capital, subject to timing of stripping and development spending.

Marigold as the prominent earnings contributor

Marigold’s recent quarterly revenue base of $130.69 million positions it as the largest earnings contributor, and continued operational execution at this site could be a primary swing factor for consolidated margins. The mine’s scale and cost structure typically provide leverage to higher production volumes, which, combined with steady recovery rates, can support incremental gross margin expansion. Under the current forecast context, Marigold’s contribution is poised to underpin both revenue growth and EBIT delivery, particularly if grade sequencing is favorable and mining costs remain contained. While specific year-over-year growth for Marigold was not disclosed, the absolute revenue level indicates it is the most promising segment for incremental upside in the near term.

Key stock price drivers this quarter

Spot and realized gold and silver prices remain the overarching drivers for both revenue and profitability in the quarter. A supportive precious metals tape would magnify the benefit of production normalization, whereas price softness could constrain the expected operating leverage. Cost inflation trends in consumables, energy, and labor continue to be a watch item, although the company’s guidance framework implies progress on unit-cost containment versus the prior-year base. Capital allocation signals, including sustaining versus growth capital timing and any updates on project pipelines, can influence valuation multiples around the print. Finally, any variance between reported adjusted EPS and the $0.52 estimate will likely drive the immediate share price reaction, especially if tied to operational items that affect forward cost guidance.

Analyst Opinions

Analyst views over the past six months skew cautious. One noted institution maintained a Hold rating with a $23.00 price target in mid-November, reflecting a neutral stance on risk-reward into the print. Another large broker reiterated a Sell rating in mid-October, citing downside risks that include operational variability and valuation considerations. The balance of commentary tilts negative to neutral, suggesting the majority perspective is cautious into the quarter. The cautious camp emphasizes the sensitivity to realized metal prices, potential variability in quarterly grades and recoveries, and the need to demonstrate consistent margin expansion against inflationary cost pressures. In this framework, a clean beat on revenue and adjusted EPS with clear evidence of unit-cost control would be required to shift sentiment more positive, while any shortfall or mixed cost signals could reinforce the guarded stance.