Amundi Acquires New Position in Sunshine Silver Mining & Refining Company $SSMR

Key Points

• Amundi acquired 1.31 million shares of Sunshine Silver Mining & Refining during the second quarter, valued at approximately $17.3 million and representing about 0.91% of the company.
• Several other institutional investors—including Van ECK Associates, Ninepoint Partners, Groupe La Française, and Moore Capital—also initiated positions in SSMR during the quarter.
• SSMR reported a quarterly loss of $0.13 per share, below the $0.07 loss analysts expected. Analysts maintain a “Moderate Buy” consensus, with an average price target of $18.92 versus a recent price of $16.86.

Amundi acquired a new position in shares of Sunshine Silver Mining & Refining Company (NYSE:SSMR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,305,534 shares of the company's stock, valued at approximately $17,259,000. Amundi owned approximately 0.91% of Sunshine Silver Mining & Refining at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SSMR. Van ECK Associates Corp purchased a new position in Sunshine Silver Mining & Refining in the second quarter valued at about $13,373,000. Ninepoint Partners LP acquired a new stake in shares of Sunshine Silver Mining & Refining in the 2nd quarter worth approximately $9,254,000. Groupe la Francaise purchased a new position in Sunshine Silver Mining & Refining in the 2nd quarter valued at approximately $3,969,000. Finally, Moore Capital Management LP purchased a new position in Sunshine Silver Mining & Refining in the 2nd quarter valued at approximately $3,966,000.

Sunshine Silver Mining & Refining Stock Performance

NYSE SSMR opened at $16.86 on Friday. Sunshine Silver Mining & Refining Company has a one year low of $12.51 and a one year high of $19.61. The firm has a 50 day simple moving average of $15.70.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) last issued its quarterly earnings data 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). Equities research analysts predict that Sunshine Silver Mining & Refining Company will post -0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SSMR shares. Morgan Stanley began coverage on Sunshine Silver Mining & Refining in a report on Monday, June 29th. They set an "overweight" rating and a $23.00 price objective for the company. Zacks Research raised Sunshine Silver Mining & Refining to a "hold" rating in a research note on Tuesday, June 30th. Weiss Ratings assumed coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, August 31st. They issued a "sell (d)" rating on the stock. Scotiabank raised their target price 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. Finally, BMO Capital Markets initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set an "outperform" rating and a $16.50 target price for the company. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunshine Silver Mining & Refining presently has an average rating of "Moderate Buy" and a consensus target price of $18.92.

Sunshine Silver Mining & Refining 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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