Van ECK Associates Corp Makes New Investment in Sunshine Silver Mining & Refining Company $SSMR

Key Points

• Van ECK Associates Corp acquired 1,011,578 shares of Sunshine Silver Mining & Refining in the second quarter, valued at about $13.4 million and representing approximately 0.72% of the company. Ninepoint Partners also established a new position worth roughly $9.3 million.
• SSMR reported a quarterly loss of $0.13 per share, missing the consensus estimate of a $0.07 loss. Analysts expect a full-year loss of approximately $0.44 per share.
• Analyst sentiment remains positive, with five Buy ratings and two Hold ratings, producing a “Moderate Buy” consensus and an average price target of $18.92. The stock recently opened at $17.47, within its 52-week range of $12.51 to $19.61.

Van ECK Associates Corp purchased a new stake in Sunshine Silver Mining & Refining Company (NYSE:SSMR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,011,578 shares of the company's stock, valued at approximately $13,373,000. Van ECK Associates Corp owned approximately 0.72% of Sunshine Silver Mining & Refining as of its most recent SEC filing.

Separately, Ninepoint Partners LP acquired a new stake in shares of Sunshine Silver Mining & Refining during the 2nd quarter valued at approximately $9,254,000.

Sunshine Silver Mining & Refining Stock Down 3.7%

Sunshine Silver Mining & Refining stock opened at $17.47 on Tuesday. The business's fifty day moving average is $15.04. Sunshine Silver Mining & Refining Company 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 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). On average, research analysts anticipate that Sunshine Silver Mining & Refining Company will post -0.44 EPS for the current year.

Analysts Set New Price Targets

SSMR has been the subject of several research analyst reports. 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 objective for the company. Zacks Research upgraded Sunshine Silver Mining & Refining to a "hold" rating in a research report on Tuesday, June 30th. BMO Capital Markets assumed coverage on Sunshine Silver Mining & Refining in a report on Monday, June 29th. They issued an "outperform" rating and a $16.50 target price on the stock. Morgan Stanley initiated coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued an "overweight" rating and a $23.00 price target for the company. Finally, Royal Bank Of Canada began coverage on Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They set a "sector perform" rating and a $15.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.92.

Insider Transactions at Sunshine Silver Mining & Refining

In other news, Director Douglas Groh bought 10,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $13.50 per share, with a total value of $135,000.00. Following the purchase, the director owned 143,929 shares of the company's stock, valued at $1,943,041.50. This trade represents a 7.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $13.50, for a total transaction of $7,499,992.50. Following the completion of the transaction, the insider owned 24,758,995 shares in the company, valued at approximately $334,246,432.50. This trade represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired a total of 59,565 shares of company stock worth $804,128 in the last ninety days.

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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