Sunshine Silver Mining & Refining Company (NYSE:SSMR) Stock Has Average Target Price of $19.08

Key Points

• Analysts maintain a moderately bullish view: Eight analysts give Sunshine Silver Mining & Refining a consensus “Moderate Buy” rating, with an average 12-month price target of $19.08 versus the stock’s $15.45 opening price.
• Recent ratings are mixed, including buy and speculative-buy recommendations from Citigroup and Canaccord Genuity, while Wall Street Zen downgraded the stock to “sell” and RBC maintained a “sector perform” rating.
• Quarterly results fell short of expectations: The company reported a loss of $0.13 per share versus the expected loss of $0.07, and analysts forecast a full-year loss of $0.44 per share. Several institutional investors nevertheless established new positions during the second quarter.

Shares of Sunshine Silver Mining & Refining Company (NYSE:SSMR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $19.08.

A number of research firms have recently commented on SSMR. Canaccord Genuity Group assumed coverage on Sunshine Silver Mining & Refining in a research report on Tuesday, August 18th. They issued a "speculative buy" rating and a $20.00 price objective for the company. Citigroup assumed coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set a "buy" rating and a $18.00 target price on the stock. Wall Street Zen lowered shares of Sunshine Silver Mining & Refining from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Royal Bank Of Canada upped their price objective on shares of Sunshine Silver Mining & Refining from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 16th. Finally, Zacks Research raised shares of Sunshine Silver Mining & Refining to a "hold" rating in a report on Tuesday, June 30th.

Sunshine Silver Mining & Refining Price Performance

Shares of Sunshine Silver Mining & Refining stock opened at $15.45 on Wednesday. The stock has a 50-day moving average price of $16.40. Sunshine Silver Mining & Refining has a fifty-two week low of $12.51 and a fifty-two week high of $19.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in Sunshine Silver Mining & Refining in the 2nd quarter worth about $318,000. The Manufacturers Life Insurance Company acquired a new position in shares of Sunshine Silver Mining & Refining during the second quarter valued at approximately $795,000. Moore Capital Management LP acquired a new position in shares of Sunshine Silver Mining & Refining during the second quarter valued at approximately $3,966,000. Groupe la Francaise acquired a new position in shares of Sunshine Silver Mining & Refining during the second quarter valued at approximately $3,969,000. Finally, Ninepoint Partners LP purchased a new position in shares of Sunshine Silver Mining & Refining in the second quarter valued at approximately $9,254,000.

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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