Ninepoint Partners LP Acquires New Holdings in Sunshine Silver Mining & Refining Company $SSMR

Ninepoint Partners LP bought a new position in Sunshine Silver Mining & Refining Company (NYSE:SSMR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 700,000 shares of the company’s stock, valued at approximately $9,254,000. Sunshine Silver Mining & Refining comprises approximately 0.7% of Ninepoint Partners LP’s investment portfolio, making the stock its 23rd biggest position. Ninepoint Partners LP owned approximately 0.50% of Sunshine Silver Mining & Refining at the end of the most recent reporting period.

Wall Street Analyst Weigh In

SSMR has been the topic of a number of recent analyst reports. Canaccord Genuity Group started coverage on shares of Sunshine Silver Mining & Refining in a research report on Tuesday. They issued a “speculative buy” rating and a $20.00 price target on the stock. Citigroup initiated coverage on shares of Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They issued a “buy” rating and a $18.00 target price on the stock. BMO Capital Markets began coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, June 29th. They issued an “outperform” rating and a $16.50 target price on the stock. Morgan Stanley started coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, June 29th. They set an “overweight” rating and a $23.00 price target for the company. Finally, Scotiabank raised their price target on 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.92.

Insider Buying and Selling

In other news, Director Douglas Groh acquired 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $13.50 per share, with a total value of $135,000.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Heather Eileen White acquired 2,000 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the chief executive officer owned 2,000 shares of the company’s stock, valued at $27,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 59,565 shares of company stock worth $804,128.

Sunshine Silver Mining & Refining Price Performance

Shares of SSMR opened at $17.50 on Friday. The company’s 50-day moving average is $14.47. Sunshine Silver Mining & Refining Company has a 52 week low of $12.51 and a 52 week high of $17.50.

Sunshine Silver Mining & Refining (NYSE:SSMR) last released 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). Equities analysts predict that Sunshine Silver Mining & Refining Company will post -0.28 EPS for the current year.

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.