What happened
According to a Feb. 17, 2026, SEC filing, Condire Management, LP, fully exited its position in SSR Mining (SSRM 3.43%), selling 3,353,891 shares in a trade estimated at $81.90 million based on quarterly average pricing. The fund now reports zero shares held.
What else to know
- Condire fully liquidated its SSR Mining stake; the position now represents n/a of 13F assets under management.
- Top holdings after the filing:
- NYSEMKT: NGD: ~$238.98 million (~24.9% of AUM)
- NYSEMKT: IAUX: ~$117.15 million (~12.2% of AUM)
- NYSE: ODV: ~$80.66 million (~8.4% of AUM)
- NYSE: SBSW: ~$74.73 million (~7.8% of AUM)
- NYSE: VAL: ~$58.40 million (~6.1% of AUM)
- As of February 17, 2026, SSRM shares were priced at $25.91, up 183% over the past year, outperforming the S&P 500 by 171.58 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $25.91 |
| Market Capitalization | $5.36 billion |
| Revenue (TTM) | $1.63 billion |
| Net Income (TTM) | $398.5 million |
Company snapshot
- SSR Mining produces and sells gold, silver, copper, lead, and zinc, with principal operations in Turkey, the United States, Canada, and Argentina.
- The company generates revenue primarily through the extraction and sale of precious and base metals from its owned and operated mining sites.
- SSR Mining was formerly known as Silver Standard Resources and changed its name in August 2017.
SSR Mining is a diversified precious metals producer with a global footprint and a focus on gold mining, complemented by silver and base metal operations.
What this transaction means for investors
SSR Mining is the third-largest gold producer in the U.S. Its stock performance is therefore highly correlated with the price of gold. When gold rises, SSR Mining shares typically follow suit. That explains the stock’s run-up in the past year or so, when gold prices surged to all-time highs in early 2026.
Condire Management, perhaps, took advantage of the gold stock’s rally and sold out of its entire position in the fourth quarter of 2025. In the one year through Dec. 31, 2025, SSR Mining stock had rallied 215%.
NASDAQ: SSRM
Key Data Points
SSR Mining stock, however, has maintained its momentum in 2026, rising nearly 38% year to date as of this writing. The gold miner released its fourth-quarter and full-year 2025 numbers on Feb. 17 and has issued a strong outlook for 2026.
SSR Mining projects a 10% rise in its gold equivalent ounce production for 2026 and expects another year of strong free cash flows (FCF) after generating $241.6 million in FCF in 2025 versus a negative FCF of $103 million in 2024.
Given its expanding gold portfolio, strong cash flow projections, and a cash balance of $534.8 million as of Dec. 31, 2025, management has also approved a $300 million share repurchase program.
Here’s the takeaway from all of this: Just because an institutional investor sells shares in a company doesn’t mean you should too.
