HIGHBuilt-inCommodity
71%
gold
“10-K Item 1: 'During 2025, sales of gold doré represented approximately 71% of total revenue'”
SSRM · Concentration risk · 10-K extracted
SSR Mining (SSRM) concentration risks
Updated
The most significant concentration SSR Mining discloses is gold at 71%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: SSR Mining’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 6 disclosed concentrations
HIGH1
MEDIUM1
LOW4
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
33%
CIBC
“10-K Item 1: 'with 33% sold to Canadian Imperial Bank of Commerce ("CIBC"), 13% sold to the Royal Bank of Canada ("RBC"), and 12% sold to the National Bank of Canada ("NBC")'”
LOWBuilt-inCommodity
24%
silver
“10-K Item 1: 'Silver sales represented approximately 24% of revenue with 10% sold to Trafigura Trading LLC.'”
LOWOutside partyCustomer
13%
RBC
“10-K Item 1: 'with 33% sold to Canadian Imperial Bank of Commerce ("CIBC"), 13% sold to the Royal Bank of Canada ("RBC"), and 12% sold to the National Bank of Canada ("NBC")'”
LOWOutside partyCustomer
12%
NBC
“10-K Item 1: 'with 33% sold to Canadian Imperial Bank of Commerce ("CIBC"), 13% sold to the Royal Bank of Canada ("RBC"), and 12% sold to the National Bank of Canada ("NBC")'”
LOWOutside partyCustomer
10%
Trafigura Trading LLC
“10-K Item 1: 'Silver sales represented approximately 24% of revenue with 10% sold to Trafigura Trading LLC.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-05SSR Mining's revenue is concentrated by commodity and by buyer. Gold doré sales represented approximately 71% of total revenue, with silver sales contributing a further 24% — together the two metals account for nearly all revenue, a structural feature of a precious-metals miner rather than a dependency risk. On the buyer side, a small set of counterparties account for meaningful shares of sales: the Canadian Imperial Bank of Commerce for 33%, the Royal Bank of Canada for 13%, and the National Bank of Canada for 12%, while Trafigura Trading LLC took 10% of silver sales specifically. Each of these buyer relationships is a dependency exposure rather than a structural one, and CIBC's share is the largest of the four, making it the counterparty relationship most capable of moving results if it changed. Netting these out, the commodity mix of gold and silver is the structural backbone of the business and moves with metal prices, while the buyer concentration — led by CIBC at a middling share and three smaller counterparties — represents the more idiosyncratic risk, since a disruption to any single banking or trading relationship could affect how, not whether, that metal revenue is realized.
For the engine’s reasoning on SSRM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Gold
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| RGLD | Royal Gold, Inc. | 3 | 0 | 0 | 3 |
| SSRM● | SSR Mining Inc. | 1 | 1 | 4 | 6 |
| HYMC | Hycroft Mining Holding Corporat | 1 | 0 | 0 | 1 |
| NEM | Newmont Corporation | 1 | 0 | 0 | 1 |
| NG | Novagold Resources Inc. | 1 | 0 | 0 | 1 |
| CDE | Coeur Mining, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.