SSR Mining Inc (NASDAQ:SSRM) saw its stock price plummet 8.48% in after-hours trading on Tuesday, despite reporting better-than-expected third-quarter earnings. The sharp decline comes as investors weigh the company's lowered production guidance and ongoing uncertainty surrounding its Çöpler mine in Turkey.

The gold mining company reported adjusted earnings per share of $0.32 for the third quarter, surpassing the analyst consensus estimate of $0.27. Quarterly sales also beat expectations, coming in at $385.839 million compared to the projected $374.980 million. However, these positive results were overshadowed by SSR Mining's cautious outlook for the remainder of the year.

SSR Mining announced that it now expects full-year 2025 production to fall in the lower half of its previously stated 410,000 to 480,000 gold equivalent ounce guidance range. Additionally, the company is trending towards the upper end of its consolidated cost guidance ranges for 2025. This increase in costs is attributed to higher-than-expected gold prices impacting royalty costs and the company's strong share price performance affecting share-based compensation.

Adding to investor concerns is the ongoing uncertainty surrounding the restart of operations at SSR Mining's Çöpler mine in Turkey. While the company remains confident and committed to resuming operations, it is currently unable to provide a timeline or conditions for the mine's restart. This lack of clarity regarding a significant asset continues to weigh on investor sentiment.

The combination of lowered production guidance, increased cost expectations, and the unresolved situation at the Çöpler mine appears to have overshadowed the company's strong quarterly performance, leading to the significant after-hours sell-off. Investors will likely be closely monitoring any updates regarding the Çöpler mine and SSR Mining's ability to meet its revised production targets in the coming months.