Sunshine Silver Mining & Refining (NYSE:SSMR) Upgraded by Canaccord Genuity Group to "Moderate Buy" Rating

Key Points

• Canaccord Genuity upgraded Sunshine Silver Mining & Refining to “Moderate Buy.” Analysts’ consensus rating is also “Moderate Buy,” with an average price target of $18.92.
• SSMR shares opened at $15.83, while the company reported a quarterly loss of $0.13 per share—$0.06 worse than analysts’ expectations. Analysts forecast a full-year loss of $0.28 per share.
• Institutional and insider activity was mixed: Ninepoint Partners acquired 700,000 shares, while a major shareholder sold 555,555 shares; insiders collectively purchased 59,565 shares over the past three months.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) was upgraded by research analysts at Canaccord Genuity Group to a "moderate buy" rating in a research report issued on Monday,Zacks.com reports.

SSMR has been the subject of several other reports. Zacks Research upgraded Sunshine Silver Mining & Refining to a "hold" rating in a report on Tuesday, June 30th. Scotiabank upped their target price on Sunshine Silver Mining & Refining from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded Sunshine Silver Mining & Refining from a "hold" rating to a "sell" rating in a research note on Saturday. 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 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 issued a "sector perform" rating and a $15.00 price target for the company. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.92.

Sunshine Silver Mining & Refining Stock Down 1.1%

SSMR stock opened at $15.83 on Monday. The stock's 50 day moving average is $14.35. Sunshine Silver Mining & Refining has a 52 week low of $12.51 and a 52 week high of $17.45.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) last released its quarterly earnings data 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). As a group, analysts anticipate that Sunshine Silver Mining & Refining will post -0.28 earnings per share for the current year.

Insider Transactions at Sunshine Silver Mining & Refining

In other Sunshine Silver Mining & Refining news, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $13.50, for a total value of $7,499,992.50. Following the completion of the sale, the insider owned 24,758,995 shares of the company's stock, valued at $334,246,432.50. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Heather Eileen White purchased 2,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $13.50 per share, with a total value of $27,000.00. Following the purchase, the chief executive officer owned 2,000 shares in the company, valued at $27,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 59,565 shares of company stock valued at $804,128 in the last three months.

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

A hedge fund recently bought a new stake in Sunshine Silver Mining & Refining stock. Ninepoint Partners LP bought a new position in shares of Sunshine Silver Mining & Refining Company (NYSE:SSMR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 700,000 shares of the company's stock, valued at approximately $9,254,000. Sunshine Silver Mining & Refining accounts for 0.7% of Ninepoint Partners LP's investment portfolio, making the stock its 23rd biggest position. Ninepoint Partners LP owned about 0.50% of Sunshine Silver Mining & Refining at the end of the most recent quarter.

About Sunshine Silver Mining & Refining

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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