SSR Mining Inc. SSRM announced that it closed its previously announced acquisition of Cripple Creek & Victor Gold Mine (“CC&V”) from Newmont Corporation NEM. The addition of CC&V positions SSR Mining as the third-largest gold producer in the United States.

Details on SSR Mining-Newmont Deal

On Dec. 6, 2024, the SSRM announced that it had signed a definitive purchase agreement with Newmont.

CC&V is located in Colorado and has a large-scale open-pit mine that has been active for more than three decades. As of Dec. 31, 2024, CC&V’s operator, Newmont, posted gold Mineral Reserves of 2.4 million ounces for CC&V, with an additional 0.8 million ounces of Measured & Indicated Mineral Resources (exclusive of Reserves) and 0.9 million ounces of Inferred Mineral resources. The gold Mineral Reserves indicate a 85% year-over-year surge from the 2023 reported figure. 

SSR Mining made an initial payment of $100 million in cash to Newmont, with additional payments of up to $175 million contingent on achieving certain milestones. Prior to the end of the first quarter, SSRM will publish consolidated 2025 production and cost guidance, including attributable guidance for CC&V.

SSRM’s Benefits From the Transaction

The addition of CC&V is anticipated to add 170,000 ounces of gold to SSR Mining’s annual production. Including SSRM’s existing Marigold operation, total annual U.S. gold production is expected to average 300,000-400,000 ounces.

The all-cash transaction is expected to be accretive to SSR Mining's key per-share metrics and gives the company a clear path forward focused on advancing initiatives at each of its six key assets.

SSR Mining’s Share Price Performance

Shares of SSR Mining have skyrocketed 128.1% over the past year against the industry’s 6.6% decline.

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SSRM’s Zacks Rank & Other Stocks to Consider

SSR Mining currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and ArcelorMittal S.A. MT. Both companies sport a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Carpenter Technology has an average trailing four-quarter earnings surprise of 15.7%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $6.95 per share. CRS shares skyrocketed 219.3% last year.

ArcelorMittal has an average trailing four-quarter earnings surprise of 4.1%. The Zacks Consensus Estimate for MT’s 2025 earnings is pegged at $3.72 per share. Its shares gained 17% last year.

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ArcelorMittal (MT) : Free Stock Analysis Report

Newmont Corporation (NEM) : Free Stock Analysis Report

Carpenter Technology Corporation (CRS) : Free Stock Analysis Report

Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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