Condire Management, LP recently made headlines with its decision to fully exit its position in SSR Mining (NASDAQ:SSRM), as per a Feb. 17, 2026, SEC filing. The fund sold a substantial 3,353,891 shares in a transaction valued at approximately $81.90 million, based on quarterly average pricing. Following this move, Condire now reports holding zero shares of SSR Mining.
The liquidation of its SSR Mining stake means that it no longer represents any portion of Condire’s 13F assets under management. The fund’s top holdings post-filing include NYSEMKT: NGD at approximately $238.98 million (24.9% of AUM), NYSEMKT: IAUX at around $117.15 million (12.2% of AUM), NYSE: ODV at roughly $80.66 million (8.4% of AUM), NYSE: SBSW at about $74.73 million (7.8% of AUM), and NYSE: VAL at close to $58.40 million (6.1% of AUM).
As of February 17, 2026, SSR Mining shares were priced at $25.91, marking a significant 183% increase over the past year. This outperformance of the S&P 500 by 171.58 percentage points showcases the strong performance of SSR Mining in the market.
SSR Mining is a prominent player in the precious metals sector, producing and selling gold, silver, copper, lead, and zinc. The company operates in various regions, including Turkey, the United States, Canada, and Argentina, generating revenue primarily through the extraction and sale of precious and base metals from its mining sites.
Formerly known as Silver Standard Resources, SSR Mining rebranded in August 2017 to reflect its diversified operations in gold, silver, and base metals. As the third-largest gold producer in the U.S., SSR Mining’s stock performance is closely tied to the price of gold. The company has experienced significant growth in its stock price, aligning with the surge in gold prices to all-time highs in early 2026.
Condire Management’s decision to divest its entire position in SSR Mining in the fourth quarter of 2025 was timely, given the stock’s impressive rally of 215% in the preceding year. Despite this, SSR Mining’s stock has continued its upward trajectory in 2026, climbing nearly 38% year-to-date. The company’s strong outlook for 2026 includes a projected 10% increase in gold equivalent ounce production, robust free cash flows, and a $300 million share repurchase program.
In conclusion, while institutional actions like Condire Management’s sell-off may raise questions for individual investors, it is essential to conduct thorough research before making investment decisions. The Motley Fool’s Stock Advisor team recommends exploring other potential investment opportunities beyond SSR Mining. By staying informed and considering various factors, investors can make well-informed choices in their investment journey.
