Moore Capital Management LP Invests $3.97 Million in Sunshine Silver Mining & Refining Company $SSMR

Moore Capital Management LP bought a new stake in Sunshine Silver Mining & Refining Company (NYSE:SSMR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 300,000 shares of the company’s stock, valued at approximately $3,966,000.

Separately, Ninepoint Partners LP purchased a new position in Sunshine Silver Mining & Refining during the second quarter worth $9,254,000.

Analysts Set New Price Targets

SSMR has been the topic of several recent research reports. Scotiabank upped their price objective 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. Citigroup initiated coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set a “buy” rating and a $18.00 price objective for the company. Royal Bank Of Canada initiated coverage on shares of Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They issued a “sector perform” rating and a $15.00 target price for the company. Canaccord Genuity Group started coverage on shares of Sunshine Silver Mining & Refining in a report on Tuesday, August 18th. They issued a “speculative buy” rating and a $20.00 target price on the stock. Finally, BMO Capital Markets started coverage on shares of Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They set an “outperform” rating and a $16.50 price target on the stock. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.92.

Sunshine Silver Mining & Refining Stock Down 3.7%

Shares of NYSE:SSMR opened at $17.47 on Tuesday. The firm has a fifty day simple moving average of $15.04. Sunshine Silver Mining & Refining Company has a 52 week low of $12.51 and a 52 week high of $19.61.

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). On average, research analysts anticipate that Sunshine Silver Mining & Refining Company will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling 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 that occurred 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 sale, the insider directly owned 24,758,995 shares of the company’s stock, valued at approximately $334,246,432.50. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anna El-Erian bought 40,000 shares of the 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 $540,000.00. Following the completion of the acquisition, the director owned 48,929 shares of the company’s stock, valued at $660,541.50. This trade represents a 447.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 59,565 shares of company stock worth $804,128.

Sunshine Silver Mining & Refining 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.