Sunshine Silver Mining & Refining (NYSE:SSMR) Announces Earnings Results, Misses Estimates By $0.01 EPS

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

Sunshine Silver Mining & Refining Stock Performance

Shares of NYSE:SSMR traded down $0.62 during midday trading on Thursday, reaching $13.49. 499,433 shares of the company were exchanged, compared to its average volume of 851,776. The company’s fifty day moving average is $14.54. Sunshine Silver Mining & Refining has a one year low of $10.63 and a one year high of $19.61.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SSMR shares. Weiss Ratings began coverage on Sunshine Silver Mining & Refining in a report on Monday, August 31st. They set a “sell (d)” rating for the company. Morgan Stanley reduced their price target on Sunshine Silver Mining & Refining from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. Royal Bank Of Canada raised their price objective on 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. Canaccord Genuity Group began coverage on 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, Wall Street Zen lowered Sunshine Silver Mining & Refining from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sunshine Silver Mining & Refining currently has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Institutional Trading of Sunshine Silver Mining & Refining

Several hedge funds have recently bought and sold shares of SSMR. Electrum Group LLC bought a new position in shares of Sunshine Silver Mining & Refining during the 3rd quarter valued at about $1,257,989,000. Amundi bought a new stake in shares of Sunshine Silver Mining & Refining in the second quarter worth about $17,259,000. Van ECK Associates Corp bought a new stake in shares of Sunshine Silver Mining & Refining in the second quarter worth about $13,373,000. Ninepoint Partners LP bought a new position in Sunshine Silver Mining & Refining during the second quarter valued at approximately $9,254,000. Finally, State Street Corp purchased a new position in Sunshine Silver Mining & Refining during the 3rd quarter valued at approximately $5,506,000.

Sunshine Silver Mining & Refining Company Profile

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.