Royal Bank Of Canada Issues Positive Forecast for Sunshine Silver Mining & Refining (NYSE:SSMR) Stock Price

Key Points

• Royal Bank of Canada raised Sunshine Silver Mining & Refining’s price target from $15 to $16 while maintaining a “sector perform” rating, implying about 1.05% downside from the prior close.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average target price of $19.08, based on five Buy, two Hold, and one Sell rating.
• SSMR shares rose 0.7% to $16.17, but the company recently missed quarterly EPS estimates, reporting a loss of $0.13 per share versus the expected loss of $0.07.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) had its target price boosted by stock analysts at Royal Bank Of Canada from $15.00 to $16.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential downside of 1.05% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Scotiabank boosted their price target on shares of Sunshine Silver Mining & Refining from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Wall Street Zen cut Sunshine Silver Mining & Refining from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings initiated coverage on Sunshine Silver Mining & Refining in a research note on Monday, August 31st. They issued a "sell (d)" rating on the stock. Canaccord Genuity Group assumed coverage on Sunshine Silver Mining & Refining in a report on Tuesday, August 18th. They set a "speculative buy" rating and a $20.00 price target for the company. Finally, Citigroup started coverage on Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They issued a "buy" rating and a $18.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunshine Silver Mining & Refining currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.08.

Sunshine Silver Mining & Refining Trading Up 0.7%

NYSE SSMR traded up $0.11 during trading on Wednesday, reaching $16.17. 210,284 shares of the company's stock were exchanged, compared to its average volume of 233,067. Sunshine Silver Mining & Refining has a fifty-two week low of $12.51 and a fifty-two week high of $19.61. The stock has a fifty day moving average price of $15.79.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Research analysts anticipate that Sunshine Silver Mining & Refining will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new position in Sunshine Silver Mining & Refining during the second quarter valued at approximately $795,000. Squarepoint Ops LLC acquired a new stake in shares of Sunshine Silver Mining & Refining in the second quarter worth $318,000. Amundi bought a new stake in shares of Sunshine Silver Mining & Refining during the 2nd quarter worth $17,259,000. Groupe la Francaise acquired a new position in Sunshine Silver Mining & Refining in the 2nd quarter valued at $3,969,000. Finally, Moore Capital Management LP acquired a new position in Sunshine Silver Mining & Refining in the 2nd quarter valued at $3,966,000.

Sunshine Silver Mining & Refining Company Profile

Sunshine Silver Mining & Refining Company operates as a silver mining company principally in the United States. The company is the owner and developer of the Sunshine Mine and the Sunshine Silver/Copper Refinery. Sunshine Silver Mining & Refining Company is based in Kellogg, Idaho.

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