Sunshine Silver Mining & Refining (NYSE:SSMR) Issues Quarterly Earnings Results

Sunshine Silver Mining & Refining (NYSE:SSMR) released its earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, FiscalAI reports.

Sunshine Silver Mining & Refining Stock Performance

Shares of SSMR traded up $0.14 during midday trading on Wednesday, hitting $17.14. The company’s stock had a trading volume of 196,477 shares, compared to its average volume of 204,325. Sunshine Silver Mining & Refining has a one year low of $12.51 and a one year high of $17.45. The company’s fifty day moving average price is $14.23.

Insider Activity at Sunshine Silver Mining & Refining

In related news, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $13.50, for a total value of $7,499,992.50. Following the sale, the insider directly owned 24,758,995 shares of the company’s stock, valued at $334,246,432.50. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anna El-Erian bought 40,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $13.50 per share, for a total transaction of $540,000.00. Following the transaction, the director owned 48,929 shares of the company’s stock, valued at approximately $660,541.50. The trade was a 447.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 59,565 shares of company stock worth $804,128 in the last three months.

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

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

Analysts Set New Price Targets

SSMR has been the topic of a number of recent analyst reports. Royal Bank Of Canada assumed coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued a “sector perform” rating and a $15.00 price target on the stock. Scotiabank upped 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 research report on Tuesday, July 14th. Citigroup assumed coverage on shares of Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They set a “buy” rating and a $18.00 price objective 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. Finally, Morgan Stanley began coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued an “overweight” rating and a $23.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.70.

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.