Sunshine Silver Mining & Refining (NYSE:SSMR) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Sunshine Silver Mining & Refining (NYSE:SSMR) released its quarterly earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), FiscalAI reports.

Sunshine Silver Mining & Refining Price Performance

Shares of NYSE SSMR traded down $0.26 during mid-day trading on Friday, reaching $13.25. The company had a trading volume of 160,228 shares, compared to its average volume of 421,524. The business has a fifty day simple moving average of $14.54. Sunshine Silver Mining & Refining has a 12-month low of $10.63 and a 12-month high of $19.61.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Amundi acquired a new stake in shares of Sunshine Silver Mining & Refining during the 2nd quarter valued at $17,259,000. Groupe la Francaise purchased a new position in shares of Sunshine Silver Mining & Refining during the 2nd quarter valued at $3,969,000. Moore Capital Management LP purchased a new position in shares of Sunshine Silver Mining & Refining during the 2nd quarter valued at $3,966,000. Ninepoint Partners LP acquired a new position in shares of Sunshine Silver Mining & Refining in the second quarter worth $9,254,000. Finally, Van ECK Associates Corp acquired a new position in shares of Sunshine Silver Mining & Refining in the second quarter worth $13,373,000.

Analyst Ratings Changes

SSMR has been the topic of several recent analyst reports. Weiss Ratings assumed coverage on Sunshine Silver Mining & Refining in a report on Monday, August 31st. They set a “sell (d)” rating on the stock. Wall Street Zen downgraded shares of Sunshine Silver Mining & Refining from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Morgan Stanley decreased their price objective on shares of Sunshine Silver Mining & Refining from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Canaccord Genuity Group initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Tuesday, August 18th. They set a “speculative buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their target price on shares of Sunshine Silver Mining & Refining from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

About Sunshine Silver Mining & Refining

Sunshine Silver Mining & Refining is a silver-focused mining company associated with the Sunshine Mine in Idaho and the Los Gatos silver project in Chihuahua, Mexico. Its business centers on developing and advancing silver mining assets. The Sunshine Mine is a historic silver property in Idaho’s Silver Valley. The company has also pursued development of the Los Gatos project, which is part of a mineral-rich district in northern Mexico.