Sunshine Silver Mining & Refining (NYSE:SSMR) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Sunshine Silver Mining & Refining (NYSE:SSMR) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other brokerages also recently weighed in on SSMR. Zacks Research raised Sunshine Silver Mining & Refining to a “hold” rating in a research note on Tuesday, June 30th. Citigroup started 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 for the company. Royal Bank Of Canada began coverage on Sunshine Silver Mining & Refining in a report on Monday, June 29th. They set a “sector perform” rating and a $15.00 price target on the stock. Scotiabank lifted 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 report on Tuesday, July 14th. Finally, BMO Capital Markets began 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 on the stock. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.92.

Sunshine Silver Mining & Refining Stock Down 2.0%

NYSE SSMR opened at $15.74 on Friday. Sunshine Silver Mining & Refining has a 12-month low of $12.51 and a 12-month high of $17.45. The company has a 50 day simple moving average of $14.32.

Sunshine Silver Mining & Refining (NYSE:SSMR) last posted its earnings results 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 EPS for the current fiscal year.

Insider Activity

In other Sunshine Silver Mining & Refining news, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of the stock in a transaction on Friday, June 5th. The shares were 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 directly owned 24,758,995 shares of the company’s stock, valued at $334,246,432.50. This represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas Groh bought 10,000 shares of Sunshine Silver Mining & Refining stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $13.50 per share, with a total value of $135,000.00. Following the purchase, the director owned 143,929 shares of the company’s stock, valued at $1,943,041.50. This trade represents a 7.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 59,565 shares of company stock worth $804,128 over the last 90 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 acquired a new position in Sunshine Silver Mining & Refining Company (NYSE:SSMR) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 portfolio, making the stock its 23rd biggest position. Ninepoint Partners LP owned 0.50% of Sunshine Silver Mining & Refining as of its most recent SEC filing.

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.