Scotiabank Upgrades Sunshine Silver Mining & Refining (NYSE:SSMR) to “Strong-Buy”

Sunshine Silver Mining & Refining (NYSE:SSMR) was upgraded by Scotiabank to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on SSMR. BMO Capital Markets assumed coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday. They set an “outperform” rating and a $16.50 price target on the stock. Citigroup initiated coverage on shares of Sunshine Silver Mining & Refining in a report on Monday. They set a “buy” rating and a $18.00 target price on the stock. Royal Bank Of Canada initiated coverage on Sunshine Silver Mining & Refining in a report on Monday. They issued a “sector perform” rating and a $15.00 price target for the company. Morgan Stanley started coverage on Sunshine Silver Mining & Refining in a research report on Monday. They issued an “overweight” rating and a $23.00 price objective on the stock. Finally, Wall Street Zen upgraded Sunshine Silver Mining & Refining to a “hold” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Sunshine Silver Mining & Refining has a consensus rating of “Buy” and an average price target of $18.50.

Sunshine Silver Mining & Refining Stock Performance

NYSE SSMR opened at $13.46 on Monday. Sunshine Silver Mining & Refining has a 1-year low of $12.56 and a 1-year high of $17.15.

Insider Activity at Sunshine Silver Mining & Refining

In other news, Director Lawrence P. Radford bought 2,500 shares of Sunshine Silver Mining & Refining stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $13.50 per share, with a total value of $33,750.00. Following the completion of the transaction, the director owned 11,429 shares in the company, valued at approximately $154,291.50. This trade represents a 28.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Groh bought 10,000 shares of the firm’s 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 completion of the purchase, the director directly owned 143,929 shares of the company’s stock, valued at approximately $1,943,041.50. This trade represents a 7.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 59,565 shares of company stock valued at $804,128.