Sunshine Silver Mining & Refining (NYSE:SSMR) Price Target Cut to $20.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut Sunshine Silver Mining & Refining’s price target to $20 from $23 while maintaining an “overweight” rating, implying 34.32% upside from the prior close.
• Analyst sentiment remains broadly positive, with five Buy ratings, two Holds, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $18.58.
• SSMR shares fell 4.1% to $14.89, while the company reported a quarterly EPS loss of $0.13, missing the $0.07 loss consensus estimate.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) had its price target dropped by equities researchers at Morgan Stanley from $23.00 to $20.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 34.32% from the stock's previous close.

Several other brokerages have also recently weighed in on SSMR. Citigroup assumed 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. Royal Bank Of Canada upped their target price on Sunshine Silver Mining & Refining from $15.00 to $16.00 and gave the company a "sector perform" rating in a report on Wednesday, September 16th. Canaccord Genuity Group started coverage on shares of Sunshine Silver Mining & Refining in a research report on Tuesday, August 18th. They set a "speculative buy" rating and a $20.00 target price for the company. Weiss Ratings initiated coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, August 31st. They set a "sell (d)" rating for the company. Finally, Zacks Research upgraded shares of Sunshine Silver Mining & Refining to a "hold" rating in a research report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.58.

Sunshine Silver Mining & Refining Stock Down 4.1%

Shares of Sunshine Silver Mining & Refining stock traded down $0.64 during trading on Wednesday, hitting $14.89. The company's stock had a trading volume of 42,816 shares, compared to its average volume of 322,695. Sunshine Silver Mining & Refining has a 52 week low of $12.51 and a 52 week high of $19.61. The firm's 50-day moving average is $16.40.

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

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

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

About Sunshine Silver Mining & Refining

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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