Scotiabank Upgrades Sunshine Silver Mining & Refining (NYSE:SSMR) to “Strong-Buy”

Sunshine Silver Mining & Refining (NYSE:SSMR) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Morgan Stanley initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday. They set an “overweight” rating and a $23.00 price target on the stock. Wall Street Zen raised shares of Sunshine Silver Mining & Refining to a “hold” rating in a research note on Saturday, June 13th. BMO Capital Markets began coverage on shares of Sunshine Silver Mining & Refining in a report on Monday. They set an “outperform” rating and a $16.50 target price on the stock. Citigroup initiated coverage on shares of Sunshine Silver Mining & Refining in a research note on Monday. They issued a “buy” rating and a $18.00 price target for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday. They set a “sector perform” rating and a $15.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.50.

Sunshine Silver Mining & Refining Price Performance

Shares of NYSE:SSMR opened at $13.46 on Monday. Sunshine Silver Mining & Refining has a twelve month low of $12.56 and a twelve month high of $17.15.

Insider Activity

In other Sunshine Silver Mining & Refining news, Director Douglas Groh acquired 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $135,000.00. Following the completion of the acquisition, the director owned 143,929 shares in the company, valued at $1,943,041.50. This trade represents a 7.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of Sunshine Silver Mining & Refining stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.50, for a total transaction of $7,499,992.50. Following the transaction, the insider owned 24,758,995 shares of the company’s stock, valued at $334,246,432.50. The trade was a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 59,565 shares of company stock worth $804,128.