SSR Mining Temporarily Suspends Operations at Its Seabee Mine

SSR Mining Inc. SSRM has announced that it is temporarily suspending operations at the Seabee mine in Canada. This decision was made due to power outages driven by nearby forest fires.Details on SSR Mining’s Seabee MineThe forest fires erupted around 15 kilometers to the north of the mine, and do not pose an immediate threat to Seabee and its infrastructure. However, the company is taking routine safety precautions to ensure staff safety.At the end of the first quarter of 2025, the Seabee mine produced 26,001 ounces of gold, up 9.4% year over over. After the first quarter, SSR Mining expected the mine to produce 70,000-80,000 ounces of gold for 2025. The mine’s cost of sales is likely to be $1,230-$1,270 per payable ounce and AISC is anticipated to be $1,710-$1,750 per payable ounce for 2025.SSRM’s Share Price Remain HighDespite the news of the temporary halt of the Seabee mine on June 4, SSR Mining’s shares have gained 3% and even scaled a new 52-week high of $13.33 on Friday before ending the session at a lower at $12.74. The upside is majorly driven by high gold prices and record silver prices.Silver prices reached a 13-year high above $36 per ounce as investors turned to safe assets amid global uncertainty. Gold prices are also gaining from several factors that have contributed to its upward trajectory, including increased geopolitical tensions, a depreciating U.S. dollar, the potential for monetary policy easing and continuous purchasing by central banks. Backed by these, the yellow metal broke through the $3,500-per-ounce threshold for the first time in April 2025 and is currently around $3,320.SSR Mining is also gaining from its recently closed acquisition of the Cripple Creek & Victor mine from Newmont Corporation NEM. This strategic move positions SSRM as the third-largest gold producer in the United States. This deal with Newmont will boost SSR Mining’s annual production by 170,000 ounces of gold.SSR Mining’s Share Price PerformanceSSRM shares have skyrocketed 147.9% over the past year against the industry’s 2.2% decline. Image Source: Zacks Investment Research SSRM’s Zacks Rank & Other Stocks to ConsiderSSR Mining currently flaunts a Zacks Rank #1 (Strong Buy).Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and Alamos Gold Inc. AGI. Carpenter Technology currently sports a Zacks Rank #1 and Alamos Gold carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Carpenter Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $7.20 per share, which indicates year-over-year growth of 51.9%. Carpenter Technology shares have skyrocketed 111% in the last year.Alamos Gold has an average trailing four-quarter earnings surprise of 1.4%. The Zacks Consensus Estimate for AGIs 2025 earnings is pegged at $1.24 per share, indicating year-over-year growth of 55%. Alamos Gold shares have surged 66% in the last year.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Alamos Gold Inc. (AGI): Free Stock Analysis Report Silver Standard Resources Inc. (SSRM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks