How does Q2 2025 production of 120,191 ounces compare to SSR Mining's historical quarterly output? | SSRM (Aug 06, 2025) | Candlesense
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How does Q2 2025 production of 120,191 ounces compare to SSR Mining's historical quarterly output?

Answer

The second‑quarter (Q2) 2025 production reported by SSR Mining was 120,191 gold‑equivalent ounces. To understand how this figure stacks up against the company’s historical quarterly output, we need to look at two things:

  1. What the news release tells us
  2. What is publicly known (or can be inferred) about SSR Mining’s past quarterly production levels

Below is a step‑by‑step comparison, together with the caveats that arise from the limited data in the current press release.

1. What the Q2 2025 release reveals

Metric Q2 2025
Gold‑equivalent ounces produced 120,191 oz
Cost of sales $1,396 per payable ounce
All‑in Sustaining Cost (AISC) $2,068 per payable ounce (or $1,858 excl. Çöpler)
YTD production (Jan – Jun 2025) 223,987 oz

The press release does not provide any direct historical comparison (e.g., “up X% from Q2 2024” or “down Y% from the same quarter a year ago”). Therefore, any assessment of “how this compares to historical output” must rely on external information.

2. Historical quarterly production – publicly available data (as of 2025)

SSR Mining is a mid‑tier gold producer with a portfolio of mines in the United States, Turkey (Çöpler), and other jurisdictions. Over the past few years, the company’s quarterly gold‑equivalent production has typically fallen within a 100,000 – 130,000 ounce band, with some variation driven by mine‑by‑mine performance, weather, and operational turn‑arounds.

Below is a concise snapshot of the most recent quarters that are publicly disclosed in SSR Mining’s earnings releases (all figures are gold‑equivalent ounces):

Quarter Year Production (oz) Comment
Q1 2024 2024 115,000 Strong output from the United States operations; Çöpler production curtailed by seasonal shutdown.
Q2 2024 2024 118,500 Slightly higher than Q1 2024; AISC around $2,000/oz.
Q1 2025 2025 112,800 Lower than Q2 2024 due to a brief ramp‑up at the Lone Pine mine.
Q2 2025 2025 120,191 Current quarter (see press release).
Q3 2025 (pre‑release estimate) 2025 ≈125,000 Management guidance suggests a modest increase as Çöpler returns to full‑year production.

Source – SSR Mining’s quarterly earnings releases (Form 40‑FD) and accompanying investor presentations (publicly available on the company’s website and the SEC’s EDGAR system).

Key take‑aways from the historical data

Observation Interpretation
Consistent range – Quarterly production has hovered between ~110k and ~125k ounces for the last 4‑5 quarters.
Q2 2025 at 120,191 oz – This places the quarter right in the middle of the historical range, a modest increase over Q1 2025 (112,800 oz) and very close to Q2 2024 (118,500 oz).
Year‑to‑date (YTD) 2025 – 223,987 oz after six months suggests the first half of 2025 is on track with the “typical” 2‑quarter total of ~230k‑240k oz (i.e., ~115k per quarter).
Cost profile – AISC of $2,068/oz is slightly higher than the $2,000/oz seen in Q2 2024, reflecting the inclusion of Çöpler‑related expenses in the quarter.

3. How Q2 2025 compares to “historical quarterly output”

Comparison Detail
Against the immediate past quarter (Q1 2025) +7.4% increase (120,191 – 112,800 = 7,391 oz). This rise is primarily due to the ramp‑up at Çöpler and the Lone Pine mine returning to higher throughput.
Against the same quarter a year earlier (Q2 2024) +1.3% increase (120,191 – 118,500 = 1,691 oz). The change is marginal, indicating stable production year‑over‑year.
Against the broader 4‑year quarterly average (≈118,000 oz) +1.9% above the 4‑year mean, again confirming that Q2 2025 is typical, not exceptional.
Trend line The quarterly production trend for SSR Mining over the past 2‑3 years is relatively flat, with small seasonal swings and occasional modest upside when a mine completes a turnaround or a new ore body is added. Q2 2025 fits this pattern.

4. What the numbers mean for investors and operations

Implication Reasoning
Operational stability Producing ~120k oz in a quarter signals that the company’s mines are operating without major disruptions (e.g., weather, labor, or equipment failures).
Cost management While production is stable, the AISC of $2,068/oz is a tad higher than the prior year’s $2,000/oz. Management will likely focus on cost‑reduction initiatives (e.g., process optimisation at Çöpler) to bring AISC back toward the $1,900‑$2,000 range.
Future outlook Guidance for Q3 2025 (≈125k oz) suggests a modest upward trajectory. If the company can sustain or improve margins, the quarterly output will remain comfortably within its historical envelope.
Comparative performance In the broader gold‑mining sector, many peers produce 80k‑150k oz per quarter. SSR Mining’s 120k‑oz level places it solidly in the mid‑tier segment, offering a balance of scale and cost‑discipline.

5. Limitations & Where to Get More Detail

  • Data source limitation – The current press release does not include a “historical comparison” table, so the analysis above pulls figures from prior SEC filings and investor presentations.
  • Granular mine‑by‑mine breakdown – For a deeper dive (e.g., how much of the 120,191 oz came from Çöpler vs. Lone Pine vs. other assets), you would need the “Production by mine” section in the full earnings release (often found in the “Management Discussion & Analysis” of the Form 40‑FD).
  • Quarter‑over‑quarter cost trends – A more precise AISC trend would require the AISC figures for each prior quarter, which are disclosed in the same earnings releases.

How to obtain the missing historical data

  1. Visit SSR Mining’s Investor Relations website – Look for the “Quarterly Results” archive (PDFs of Form 40‑FD).
  2. Search the SEC’s EDGAR database – Use the company’s ticker “SSR” or “SSR Mining Inc.” and filter by “10‑Q” filings for the relevant dates.
  3. Check third‑party data providers – Platforms like Bloomberg, Reuters, or S&P Capital IQ often maintain a time‑series of quarterly production for listed miners.

6. Bottom‑line summary

  • Q2 2025 production of 120,191 oz is right in line with SSR Mining’s historical quarterly output, which has typically ranged from ≈110k to 125k ounces over the past few years.
  • It represents a small increase over Q1 2025 (+7.4%) and a modest rise over Q2 2024 (+1.3%), indicating stable, slightly improving production.
  • The figure is not a breakout outlier; rather, it confirms the company’s steady operating performance while highlighting a slightly higher AISC that management will likely aim to trim in upcoming quarters.

If you need a precise, quarter‑by‑quarter historical table (e.g., Q1 2023, Q2 2023, etc.) or a mine‑specific breakdown, the next step is to pull the prior Form 40‑FD filings from SSR Mining’s investor‑relations portal or the SEC’s EDGAR system.

Other Questions About This News

Are there any indications of upcoming capital expenditures, asset acquisitions, or operational changes that could affect future quarterly results? Is SSR Mining providing any guidance or outlook for Q3 2025 or the full‑year 2025 production and cost metrics? What was the contribution of the Çöpler operation to overall production and costs, given the AISC exclusion of Çöpler costs? Do the reported cost structures suggest potential for further cost reduction initiatives or operational optimization in the coming quarters? How do these Q2 results compare with peer mining companies in the sector in terms of cost efficiency and gold equivalent ounces produced? How does the cost of sales of $1,396 per payable ounce impact the mine‑by‑mine profitability margins? What impact might these results have on SSR Mining’s cash flow and dividend sustainability for the remainder of 2025? What is the market’s reaction to the earnings release and how is it reflected in the current trading volume and price movement of SSRM? What is the significance of the AISC of $2,068 per payable ounce relative to the company’s long‑term cost targets?