Royal Bank Of Canada Increases Sunshine Silver Mining & Refining (NYSE:SSMR) Price Target to $16.00

Sunshine Silver Mining & Refining (NYSE:SSMR) had its price objective lifted by equities researchers at Royal Bank Of Canada from $15.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.05% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets began coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set an “outperform” rating and a $16.50 target price on the stock. Scotiabank raised their price target on shares of Sunshine Silver Mining & Refining from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Weiss Ratings assumed coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, August 31st. They set a “sell (d)” rating on the stock. Zacks Research raised shares of Sunshine Silver Mining & Refining to a “hold” rating in a research report on Tuesday, June 30th. Finally, Citigroup started 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 for the company. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.08.

Sunshine Silver Mining & Refining Stock Up 0.7%

NYSE:SSMR traded up $0.11 during mid-day trading on Wednesday, hitting $16.17. 210,284 shares of the company’s stock traded hands, compared to its average volume of 233,067. The firm’s 50 day moving average price is $15.79. Sunshine Silver Mining & Refining has a 12 month low of $12.51 and a 12 month high of $19.61.

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

Hedge Funds Weigh In On Sunshine Silver Mining & Refining

A number of hedge funds have recently made changes to their positions in SSMR. Amundi acquired a new stake in shares of Sunshine Silver Mining & Refining during the 2nd quarter valued at about $17,259,000. Groupe la Francaise acquired a new position in Sunshine Silver Mining & Refining in the second quarter worth about $3,969,000. Moore Capital Management LP bought a new position in Sunshine Silver Mining & Refining during the second quarter worth about $3,966,000. Ninepoint Partners LP acquired a new stake in Sunshine Silver Mining & Refining during the second quarter valued at approximately $9,254,000. Finally, Van ECK Associates Corp acquired a new stake in Sunshine Silver Mining & Refining during the second quarter valued at approximately $13,373,000.

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.