William K. MacNevin, Executive Vice President of Operations and Sustainability at SSR Mining Inc. (NASDAQ:SSRM), recently sold 6,722 common shares of the company. The transaction, which took place on January 3, 2025, was executed at a price of $7.16 per share, totaling $48,129. The sale occurred as SSRM shares trade at $7.12, significantly above their 52-week low of $3.76 but below their high of $10.66. According to InvestingPro analysis, SSRM appears undervalued at current levels.
Following the sale, MacNevin holds 265,711 shares directly. This sale comes amidst a series of transactions that also included the acquisition of 76,586 common shares on January 1, 2025, at no cost. These shares were acquired as part of a vesting schedule for restricted share units, which convert on a one-for-one basis into common shares upon vesting. InvestingPro data reveals that management has been actively buying back shares, while the company maintains strong liquidity with a current ratio of 3.91. For deeper insights into SSRM's valuation and 8 additional ProTips, subscribers can access the comprehensive Pro Research Report.
In other recent news, SSR Mining Inc. has achieved a significant production milestone with its Marigold Mine producing a total of 5 million ounces of gold. This is in conjunction with the company's 2024 growth strategy that includes approximately $10 million in expenditures at Marigold, focusing on extending the mine's life. Also, SSR Mining released its third quarter 2024 financial results, reporting an attributable net income of $0.05 per share and a negative cash flow of $1 million. In the same quarter, the company produced 97,000 gold equivalent ounces at an all-in sustaining cost (AISC) of $2,065 per ounce.
Remediation costs for the Çöpler mine, following an incident, are estimated to be between $250 million to $300 million over the next 24 to 36 months. Despite this, operations at the Çöpler mine are expected to restart within 20 days of receiving regulatory approvals. Marigold production remains on track for annual guidance while Seabee's guidance has been revised due to forest fires. Puna, another SSR Mining operation, achieved a record throughput, leading to an increased full-year silver production outlook. These are the recent developments in SSR Mining Inc. operations.
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