Sunshine Silver Mining & Refining (NYSE:SSMR) Stock Rating Lowered by Wall Street Zen

Sunshine Silver Mining & Refining (NYSE:SSMR) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently weighed in on SSMR. Morgan Stanley began coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued an “overweight” rating and a $23.00 price objective for the company. Royal Bank Of Canada assumed 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 for the company. BMO Capital Markets initiated coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, June 29th. They issued an “outperform” rating and a $16.50 price target for the company. Citigroup initiated coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, June 29th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Scotiabank boosted their price objective on shares of Sunshine Silver Mining & Refining from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sunshine Silver Mining & Refining currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.70.

Sunshine Silver Mining & Refining Stock Down 1.3%

Shares of NYSE:SSMR opened at $15.85 on Friday. The firm’s 50 day simple moving average is $14.30. Sunshine Silver Mining & Refining has a twelve month low of $12.51 and a twelve month high of $17.45.

Sunshine Silver Mining & Refining (NYSE:SSMR) last released 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). On average, equities research analysts forecast that Sunshine Silver Mining & Refining will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sunshine Silver Mining & Refining news, Director Anna El-Erian purchased 40,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $540,000.00. Following the completion of the purchase, the director directly owned 48,929 shares of the company’s stock, valued at approximately $660,541.50. This represents a 447.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas Groh purchased 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $135,000.00. Following the acquisition, the director directly owned 143,929 shares in the company, valued at approximately $1,943,041.50. This trade represents a 7.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 59,565 shares of company stock valued at $804,128 in the last ninety days.

Hedge Funds Weigh In On Sunshine Silver Mining & Refining

An institutional investor recently bought a new position in Sunshine Silver Mining & Refining stock. Ninepoint Partners LP bought a new stake in shares of Sunshine Silver Mining & Refining Company (NYSE:SSMR) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 700,000 shares of the company’s stock, valued at approximately $9,254,000. Sunshine Silver Mining & Refining makes up 0.7% of Ninepoint Partners LP’s portfolio, making the stock its 23rd largest position. Ninepoint Partners LP owned about 0.50% of Sunshine Silver Mining & Refining at the end of the most recent reporting period.

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.