Sunshine Silver Mining & Refining Company (NYSE:SSMR) Stock Short Interest Report for September

Key Points

• Short interest more than doubled in September to 2.70 million shares, up 107.4% from mid-month, representing 1.9% of outstanding stock and 2.9 days to cover.
• Analyst sentiment remains mixed but leans positive: five analysts rate SSMR a Buy, two a Hold, and one a Sell, producing a “Moderate Buy” consensus and an $18.58 price target.
• The stock opened at $13.67, below its 50-day moving average of $16.43, while the company reported a quarterly loss of $0.13 per share—worse than the $0.07 loss analysts expected.

Sunshine Silver Mining & Refining Company (NYSE:SSMR - Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,698,048 shares, a growth of 107.4% from the September 15th total of 1,300,688 shares. Based on an average trading volume of 945,156 shares, the short-interest ratio is presently 2.9 days. Currently, 1.9% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SSMR. Morgan Stanley reduced their price target on shares of Sunshine Silver Mining & Refining from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Wednesday, October 7th. Zacks Research upgraded shares of Sunshine Silver Mining & Refining to a "hold" rating in a report on Tuesday, June 30th. Scotiabank raised their price objective on shares of Sunshine Silver Mining & Refining from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 14th. Weiss Ratings assumed 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, Wall Street Zen cut shares of Sunshine Silver Mining & Refining from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.58.

Sunshine Silver Mining & Refining Price Performance

Shares of SSMR opened at $13.67 on Wednesday. Sunshine Silver Mining & Refining has a 52 week low of $12.51 and a 52 week high of $19.61. The business's 50 day moving average is $16.43.

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). Analysts expect that Sunshine Silver Mining & Refining will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Sunshine Silver Mining & Refining

A number of hedge funds have recently bought and sold shares of SSMR. Amundi purchased a new position in Sunshine Silver Mining & Refining during the second quarter worth about $17,259,000. Groupe la Francaise purchased a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at about $3,969,000. Moore Capital Management LP purchased a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at about $3,966,000. Ninepoint Partners LP purchased a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at about $9,254,000. Finally, Van ECK Associates Corp bought a new position in shares of Sunshine Silver Mining & Refining during the 2nd quarter worth approximately $13,373,000.

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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