Wall Street Zen Downgrades Sunshine Silver Mining & Refining (NYSE:SSMR) to Sell

Key Points

• Wall Street Zen downgraded Sunshine Silver Mining & Refining to “sell” from “hold,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $18.70.
• The stock opened at $15.85, within its 52-week range of $12.51 to $17.45. The company reported a quarterly loss of $0.13 per share, missing estimates by $0.06.
• Insider activity was mixed: the CEO bought 2,000 shares, while major shareholder Ospraie Real Assets Fund sold 555,555 shares. Separately, Ninepoint Partners acquired 700,000 shares worth approximately $9.25 million.

Sunshine Silver Mining & Refining (NYSE:SSMR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research 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 price objective for the company. Scotiabank upped their target price on 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. Morgan Stanley started coverage on Sunshine Silver Mining & Refining in a report on Monday, June 29th. They set an "overweight" rating and a $23.00 target price on the stock. BMO Capital Markets initiated coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set an "outperform" rating and a $16.50 price target for the company. Finally, Zacks Research raised Sunshine Silver Mining & Refining to a "hold" rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sunshine Silver Mining & Refining has a consensus rating of "Moderate Buy" and a consensus target price of $18.70.

Sunshine Silver Mining & Refining Stock Performance

Shares of NYSE SSMR opened at $15.85 on Friday. The company has a 50-day simple moving average of $14.30. 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 announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). As a group, equities research analysts expect that Sunshine Silver Mining & Refining will post -0.28 earnings per share for the current year.

Insider Activity at Sunshine Silver Mining & Refining

In other news, CEO Heather Eileen White acquired 2,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $13.50 per share, with a total value of $27,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,000 shares in the company, valued at approximately $27,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of the company's stock in a transaction that occurred on 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 transaction, the insider directly owned 24,758,995 shares in the company, valued at $334,246,432.50. The trade was a 2.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired 59,565 shares of company stock worth $804,128 over the last three months.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Sunshine Silver Mining & Refining stock. Ninepoint Partners LP purchased 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 and Exchange Commission. The institutional investor purchased 700,000 shares of the company's stock, valued at approximately $9,254,000. Sunshine Silver Mining & Refining accounts for approximately 0.7% of Ninepoint Partners LP's investment portfolio, making the stock its 23rd biggest holding. Ninepoint Partners LP owned approximately 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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