Scotiabank Raises Sunshine Silver Mining & Refining (NYSE:SSMR) Price Target to $21.00

Key Points

• Scotiabank raised its price target on Sunshine Silver Mining & Refining to $21.00 from $20.00 and kept a sector outperform rating, implying about 60% upside from the current share price.
• Other analysts have been mixed on the stock: recent ratings include buy calls from Citigroup and Morgan Stanley, a sector perform from RBC, and a sell downgrade from Wall Street Zen. Overall, MarketBeat shows a Moderate Buy consensus with an average target of $18.70.
• The stock was down 0.5% to $13.10 in Tuesday trading, while company insiders have been buying shares recently. CEO Heather Eileen White and Director Douglas Groh both purchased stock at $13.50, and insiders have bought 59,565 shares worth $804,128 over the last three months.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) had its price objective increased by stock analysts at Scotiabank from $20.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price suggests a potential upside of 60.31% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada began coverage on shares of Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They set a "sector perform" rating and a $15.00 target price on the stock. Zacks Research raised Sunshine Silver Mining & Refining to a "hold" rating in a report on Tuesday, June 30th. Morgan Stanley started coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set an "overweight" rating and a $23.00 price objective for the company. Wall Street Zen downgraded Sunshine Silver Mining & Refining from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Finally, Citigroup initiated coverage on shares of 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. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.70.

Sunshine Silver Mining & Refining Stock Down 0.5%

NYSE:SSMR traded down $0.06 during trading hours on Tuesday, hitting $13.10. The company's stock had a trading volume of 29,780 shares, compared to its average volume of 232,729. Sunshine Silver Mining & Refining has a twelve month low of $12.51 and a twelve month high of $17.15.

Insiders Place Their Bets

In related news, CEO Heather Eileen White acquired 2,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $27,000.00. Following the purchase, the chief executive officer owned 2,000 shares in the company, valued at approximately $27,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas Groh bought 10,000 shares of the stock in a transaction dated 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 acquisition, the director owned 143,929 shares of the company's stock, valued at $1,943,041.50. The trade was a 7.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 59,565 shares of company stock worth $804,128 in the last three months.

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