Morgan Stanley Cuts Sunshine Silver Mining & Refining (NYSE:SSMR) Price Target to $20.00

Sunshine Silver Mining & Refining (NYSE:SSMR) had its price objective dropped by stock analysts at Morgan Stanley from $23.00 to $20.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 34.32% from the company’s current price.

Other equities analysts have also issued reports about the company. Citigroup initiated coverage on 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. BMO Capital Markets initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued an “outperform” rating and a $16.50 price target for the company. Weiss Ratings began coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, August 31st. They issued a “sell (d)” rating for the company. Scotiabank boosted their price target 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. Finally, Zacks Research upgraded shares of Sunshine Silver Mining & Refining to a “hold” rating in a report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Sunshine Silver Mining & Refining Price Performance

Shares of SSMR traded down $0.64 during trading hours on Wednesday, hitting $14.89. The stock had a trading volume of 42,816 shares, compared to its average volume of 322,695. Sunshine Silver Mining & Refining has a 1-year low of $12.51 and a 1-year high of $19.61. The business’s 50 day moving average is $16.40.

Sunshine Silver Mining & Refining (NYSE:SSMR) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Analysts expect that Sunshine Silver Mining & Refining will post -0.44 EPS for the current fiscal year.

Institutional Trading of Sunshine Silver Mining & Refining

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in shares of Sunshine Silver Mining & Refining in the second quarter valued at approximately $795,000. Squarepoint Ops LLC bought a new stake in Sunshine Silver Mining & Refining during the second quarter worth $318,000. Amundi bought a new stake in Sunshine Silver Mining & Refining during the second quarter worth $17,259,000. Groupe la Francaise purchased a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at $3,969,000. Finally, Moore Capital Management LP bought a new position in Sunshine Silver Mining & Refining during the 2nd quarter valued at $3,966,000.

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.