Sunshine Silver Mining & Refining Company (NYSE:SSMR) Short Interest Update

Sunshine Silver Mining & Refining Company (NYSE:SSMR) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 1,300,688 shares, an increase of 77.0% from the August 31st total of 734,894 shares. Based on an average daily trading volume, of 336,659 shares, the short-interest ratio is currently 3.9 days. Approximately 0.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

SSMR has been the topic of several research analyst reports. Royal Bank Of Canada lifted their price target on shares of Sunshine Silver Mining & Refining from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Scotiabank upped their price objective on shares of Sunshine Silver Mining & Refining from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen lowered Sunshine Silver Mining & Refining from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Canaccord Genuity Group initiated coverage on Sunshine Silver Mining & Refining in a research report on Tuesday, August 18th. They set a “speculative buy” rating and a $20.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on Sunshine Silver Mining & Refining in a report on Monday, June 29th. They issued an “outperform” rating and a $16.50 target price for the company. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sunshine Silver Mining & Refining presently has an average rating of “Moderate Buy” and an average price target of $19.08.

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

Institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new position in shares of Sunshine Silver Mining & Refining during the second quarter worth about $318,000. The Manufacturers Life Insurance Company acquired a new stake in Sunshine Silver Mining & Refining during the 2nd quarter worth approximately $795,000. Groupe la Francaise acquired a new stake in Sunshine Silver Mining & Refining during the 2nd quarter worth approximately $3,969,000. Moore Capital Management LP purchased a new position in shares of Sunshine Silver Mining & Refining in the 2nd quarter valued at approximately $3,966,000. Finally, Ninepoint Partners LP purchased a new position in shares of Sunshine Silver Mining & Refining in the 2nd quarter valued at approximately $9,254,000.

Sunshine Silver Mining & Refining Trading Up 1.1%

Shares of SSMR traded up $0.16 during mid-day trading on Thursday, reaching $14.88. 53,061 shares of the company’s stock were exchanged, compared to its average volume of 326,827. The stock’s fifty day simple moving average is $16.33. Sunshine Silver Mining & Refining 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 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). As a group, equities research analysts forecast that Sunshine Silver Mining & Refining will post -0.44 EPS for the current fiscal 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.