Sunshine Silver Mining & Refining Company (NYSE:SSMR) Sees Large Growth in Short Interest

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

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

A number of hedge funds have recently made changes to their positions in SSMR. Amundi acquired a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at approximately $17,259,000. Van ECK Associates Corp bought a new stake in Sunshine Silver Mining & Refining during the second quarter worth approximately $13,373,000. Ninepoint Partners LP acquired a new position in shares of Sunshine Silver Mining & Refining in the 2nd quarter worth $9,254,000. Groupe la Francaise purchased a new position in Sunshine Silver Mining & Refining in the 2nd quarter worth about $3,969,000. Finally, Moore Capital Management LP purchased a new stake in shares of Sunshine Silver Mining & Refining in the 2nd quarter valued at approximately $3,966,000.

Sunshine Silver Mining & Refining Price Performance

NYSE SSMR remained flat at $14.89 during trading hours on Tuesday. 251,976 shares of the company’s stock were exchanged, compared to its average volume of 328,901. The business has a 50 day moving average of $16.32. Sunshine Silver Mining & Refining has a 1 year low of $12.51 and a 1 year high of $19.61.

Sunshine Silver Mining & Refining (NYSE:SSMR) last posted its 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). On average, research analysts anticipate that Sunshine Silver Mining & Refining will post -0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

SSMR has been the topic of a number of research analyst reports. Zacks Research raised Sunshine Silver Mining & Refining to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings started coverage on Sunshine Silver Mining & Refining in a research report on Monday, August 31st. They set a “sell (d)” rating on the stock. Citigroup started coverage on Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They set a “buy” rating and a $18.00 price objective on the stock. BMO Capital Markets started coverage on shares of Sunshine Silver Mining & Refining in a report on Monday, June 29th. They issued an “outperform” rating and a $16.50 price objective for the company. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Sunshine Silver Mining & Refining currently has a consensus rating of “Moderate Buy” and an average target price of $19.08.

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.