The figures show SSR's performance for the third quarter of 2024, and investors aren't pleased with the results.

Shares are currently swapping hands at $7.93 apiece, nearly 13% lower on the day and their lowest mark since September.

Here's what the company posted.

ASX All Ords stock in red after quarterly

It's been a tough session for the ASX All Ords stock after its quarterly numbers were posted to the market yesterday.

The company's Çöpler mine in Turkey experienced a serious fatal incident in February this year, which continues to weigh on its operations and bottom line.

The incident — in which nine workers were trapped in a significant landslide that occurred at the Çöpler heap leach pad — has led to ongoing remediation efforts that have impacted operations. SSR estimates costs will range between $250 million and $300 million over 24 to 36 months.

During the quarter, the ASX All Ords stock allocated $48 million to this remediation, bringing the total spent to $103.3 million so far.

Alongside this, the company faces delays in securing Turkish regulatory permits to restart mining activities. The uncertainty around when the site can resume operations may have added to investor concerns, especially as SSR continues negotiations with Turkish authorities over long-term site remediation.

Turning to the quarter, SSR's production also took a hit across several sites, with operations at its Seabee suspended temporarily due to nearby forest fires.

In total, SSR reported 97,429 gold equivalent ounces in third-quarter production, falling short of previous quarters.

Year-to-date production is 275,113 gold equivalent ounces. All-in-sustaining costs (AISC) surged to $1,886 per ounce, driven up by higher care and maintenance expenses.

As a result, net profit for the quarter was $10.6 million, down from $15.2 million this time last year.

Stock prices follow earnings – both historical and projected – so a decrease in earnings hardly comes with a growth in stock price. This could be impacting the ASX All Ords stock today.

What's next for SSR Mining?

The company left the quarter with a total liquidity of $834 million, which provides some buffer as it addresses its operational issues.

But it's what is set to come at its Copler site in Turkey that investors will be watching most. As per the release, the company had this to say about what to expect:

In partnership with the Turkish authorities, the Company has continued to progress the remediation at the site. To date, over 16 million tonnes (approximately 86%) of the displaced heap leach material has been moved to temporary storage locations, including substantially all the displaced material from the Sabırlı Valley.

At this time, we are not able to estimate or predict when and under what conditions we will resume operations at Çöpler. Additionally, SSR Mining cannot, at this time, assess the entire scope of the impact of operating under the 2014 EIA…

… SSR Mining remains well positioned to continue remediation efforts ahead of a potential restart of operations at Çöpler.

Foolish takeaway

This ASX All Ords stock is being hammered today after its quarterly numbers overnight. Investors continue unloading shares at the time of writing.

In the past 12 months, the stock has fallen more than 56% and has dropped nearly 50% this year to date.

The post This ASX All Ords mining stock sinks 13% after a rocky quarter appeared first on The Motley Fool Australia.

That's because 27 February marked the beginning of the sizzling run higher for the gold price.

Just what kind of sizzling run are we talking about?

Well, on 27 February gold was trading for US$2,030 per ounce, already well above the US$1,820 that same ounce was fetching on 5 October.

But amid strong central bank buying, the prospect of lower interest rates on the horizon from global central banks, and increased demand for haven assets, the gold price charged higher from there to hit new records on 20 May.

While bullion has retraced a touch from those highs, it's still commanding US$2,336 per ounce today. This sees the yellow metal up 15.1% since the end of February.

As you'd expect, that's been a boon for most ASX gold shares.

Indeed, since market close on 28 February, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) has rocketed 23.0%. For some context the All Ordinaries Index (ASX: XAO) is up 1.4% over this same period.

But with that kind of outperformance already in the bag, is now still a good time to buy ASX gold shares?

Why ASX gold shares could keep shining bright

A range of company-specific factors will determine how well any single ASX gold share will perform over the coming years.

But what happens with the gold price will impact them all.

On that front, UBS has upgraded four ASX gold shares, labelling the Aussie gold sector as "relatively attractive".

As The Australian reports UBS has upgraded its outlook for Northern Star Resources Ltd (ASX: NST), Genesis Minerals Ltd (ASX: GMD), Regis Resources Ltd (ASX: RRL) and SSR Mining Inc (ASX: SSR).

The upgrades come amid the broker's upwardly revised expectations for the gold price.

UBS' analysts have increased their 2025 gold price target by 21% to US$2,700 per ounce. The broker also increased its 2026 price forecast by 34% to US$2,775 per ounce. And UBS' revised 2027 gold price forecast of US$2,600 per ounce is up 30% from the prior forecast.

In Aussie dollars that would see the 2025 gold price at AU$4,053 per ounce.

Taking ASX gold share Northern Star as one example, the miner's March quarterly report revealed it was producing gold at an all-in sustaining cost (AISC) of AU$1,844 per ounce (US$1,213/oz). So we're talking about some hefty potential profit margins here.

Commenting on the upgrades for the ASX gold shares, UBS analysts said:

We have previously flagged some moderate risks around FY 2025 guidance and medium-term cost profiles and have taken the opportunity to update this, but this pales in comparison to the prospect of nearly AU$4,000 per ounce gold.

The post Is buying ASX gold shares right now a good idea? appeared first on The Motley Fool Australia.

The ASX 300 share in question is SSR Mining Inc (ASX: SSR). SSR shares are having just about the worst day than an ASX share can have.

Yesterday, this gold miner closed at $14.84 a share. But this morning, those same shares opened at just $7.58, and are down to $7.47 at the time of writing. That's a loss worth a shocking 50.1%.

It's not often that we see a share lose half of its market capitalisation in just a couple of hours of trading. So what on earth is going on here?

Why has this ASX 300 share just lost 50% of its value?

Well, this catastrophic share price loss seems to be a consequence of an announcement that SSR made this morning before market open.

The announcement was brief, but painful for investors:

SSR Mining Inc… announces a suspension of operations at the Çöpler mine as a result of a large slip on the heap leach pad. This event occurred in the morning of February 13, 2024 at approximately 6:30 am EST, and all operations at Çöpler have been suspended as a result.

The Çöpler mine is one of five profitable operations that SSR Mining runs. It is located in Turkey and produces both gold and copper ore. Over the three months ending 30 September 2023, Çöpler produced 56,768 ounces of gold at an all-in-sustaining cost (AISC) of US$1,378 per ounce.

However, Çöpler is not SSR Mining's most valuable gold asset. Over the same quarter, its Marigold mine, located in Nevada, USA, produced 83,272 ounces at an AISC of US$1,106 per ounce.

Even so, ASX 300 investors are certainly not appreciating the news coming out of SSR today regarding its Çöpler mine, if the share price performance is anything to go off.

SSR Mining share price snapshot

Even before today's calamitous share price drop, it had been a tough year for SSR Mining shares. As of yesterday's close, the miner had lost more than 28% of its value over the preceding 12 months. That figure now stands at 63.7%. The company is now also down more than 77% since April 2022.

The post How has this ASX 300 gold share managed to crash 50% today? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market's lead today are listed below. Here's why they are falling:

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 2.5% to $11.61. This follows a pullback in the gold price and improving investor sentiment. The latter is reducing demand for safe-haven assets. It isn't just Northern Star that is falling. The S&P/ASX All Ordinaries Gold index is down 1.1% this afternoon.

Origin Energy Ltd (ASX: ORG)

The Origin share price is down 7% to $8.42. Investors have been selling this energy giant's shares despite the company receiving an improved takeover offer from the Brookfield consortium. It has increased its offer to $9.53 per share. However, with AustralianSuper rejecting this best and final offer, the market appears to believe the deal could be off.

Santos Ltd (ASX: STO)

The Santos share price is down 2.5% to $7.56. This morning, this energy producer released an update on its Barossa project. It advised that the Federal Court of Australia has granted an interim injunction to prevent Santos from commencing to lay the Barossa Gas Export Pipeline (GEP) until 13 November. The Court will sit again on 13 November to determine whether to extend the injunction until a final hearing.

SSR Mining Inc (ASX: SSR)

The SSR Mining share price is down 15% to $18.30. This follows the release of a disappointing quarterly update from the gold miner. SSR revealed that its profits were materially impacted by new corporate tax regulations in Turkey.

The post Why Northern Star, Origin, Santos, and SSR Mining shares are sinking appeared first on The Motley Fool Australia.

In afternoon trade, the ASX mining stock is down 15% to $18.48. At one stage it hit a 52-week low of $18.29.

This has reduced the gold miner's market capitalisation from $4.4 billion to approximately $3.7 billion.

Why is this ASX mining stock getting hammered?

Investors have been heading to the exits today after the company released its third-quarter results.

According to the release, the gold miner delivered third-quarter production of 192,195 ounces with an all-in sustaining cost (AISC) of US$1,289 per ounce.

This means that year-to-date production is 495,668 ounces with an AISC of US$1,516 per ounce. In light of this, the company believes that it is tracking towards the lower end of its production guidance in 2023.

So why the selling?

Investors may be disappointed because despite this production, its lower AISC, and the strong gold price, it only delivered net income of US$15.2 million for the three months. That's not much for a company of this size.

Management advised that this reflects one-time tax expenses associated with the increase of the corporate income tax rate in Turkey.

On an adjusted basis, its net income would have been much higher at US$53 million for the period.

Another thing that appears to be weighing on the ASX mining stock is the average realised price it commanded for its gold. That came in at US$1,913 per ounce, which was short of the Bloomberg consensus estimate.

Overall, a very messy set of results with positives and negatives.

The post Guess which $4.4 billion ASX mining stock is crashing 14% today appeared first on The Motley Fool Australia.

Let's take a look.

The ASX All Ords shares going ex-dividend this week

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price opened on Tuesday at $114.10, up 0.14% on yesterday's close.

The ASX All Ords mining giant's ex-dividend date is 10 August (this Thursday).

Rio Tinto will pay a fully franked interim dividend of US$1.77 (A$2.62) per share for 1H FY23 on 21 September.

In its half-year results, Rio Tinto reported a 10% drop in revenue to US$26.67 billion and a 25% fall in underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) to US$11.73 billion.

Janus Henderson Group CDI (ASX: JHG)

The Janus Henderson share price opened at $41.70 this morning, up 0.4% on yesterday's close.

The investment management services company's ex-dividend date is 11 August (this Friday).

The ASX All Ords share will pay 39 US cents (59 AU cents) per share unfranked for Q2 FY23 on 30 August.

In its quarterly update, Janus Henderson reported operating income of US$117.9 million, down 18% on Q2 FY22.

SSR Mining Inc CDI (ASX: SSR)

SSR Mining shares opened on Tuesday at $22, down 0.23% on yesterday's close.

The ASX All Ords gold miner has an ex-dividend date of 11 August (this Friday).

SSR Mining will pay 7 US cents (11 AU cents) unfranked for Q2 FY23 on 12 September.

In its Q2 FY23 update, SSR Mining reported net income of $74.9 million, up 28% on Q2 FY22.

What does the ex-dividend date mean?

This is the first day an ASX All Ords share trades without its upcoming dividend payment attached.

If you sell a share on or after the ex-dividend date, you will still receive the dividend and franking credits.

Between the declaration date and the ex-dividend date, an ASX All Ords share is said to be trading 'cum dividend' (CD).

On the ex-dividend date, the share converts to trading ex-dividend (XD).

The post 3 ASX All Ords shares with ex-dividend dates this week appeared first on The Motley Fool Australia.