other material
confidence high
sentiment positive
materiality 0.55
SSR Mining announces new NCIB to repurchase up to 10.2M shares (5% of outstanding)
SSR MINING INC.
- Up to 10,200,000 common shares authorized for repurchase over 12 months starting June 20, 2023, representing ~5% of shares outstanding.
- Previous NCIB (June 2022–June 2023) repurchased 9,035,319 shares at avg price $16.02 for ~$145M.
- Since 2021, returned >$409M to shareholders, including ~$293M in buybacks reducing shares by 8%.
- Year-to-date 2023 repurchased 2,982,193 shares for >$44M; combined with dividends, expects min $102M return (~3.5% yield).
- Company believes market price undervalues fundamentals; NCIB supplements ongoing base dividend.