Sunshine Silver Mining & Refining Company (NYSE:SSMR) Shares Shorted: Short Interest Up 77.0% in September

Sunshine Silver Mining & Refining Company (NYSE:SSMR) saw a large 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. Based on an average daily volume of 336,659 shares, the days-to-cover ratio is presently 3.9 days. Currently, 0.9% of the shares of the company are short sold.

Sunshine Silver Mining & Refining Price Performance

Shares of Sunshine Silver Mining & Refining stock traded down $0.11 during trading hours on Wednesday, reaching $14.80. The stock had a trading volume of 447,894 shares, compared to its average volume of 655,323. The business’s 50 day simple moving average is $16.33. 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 released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Research analysts anticipate that Sunshine Silver Mining & Refining will post -0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SSMR. Zacks Research raised Sunshine Silver Mining & Refining to a “hold” rating in a report on Tuesday, June 30th. Morgan Stanley assumed coverage on Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They issued an “overweight” rating and a $23.00 target price on the stock. Wall Street Zen cut shares of Sunshine Silver Mining & Refining from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Canaccord Genuity Group started 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 target price on the stock. Finally, Royal Bank Of Canada lifted their target price 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. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.08.

Institutional Investors Weigh In On Sunshine Silver Mining & Refining

Several institutional investors have recently bought and sold shares of SSMR. Amundi acquired a new position in shares of Sunshine Silver Mining & Refining during the 2nd quarter valued at $17,259,000. Van ECK Associates Corp purchased a new stake in Sunshine Silver Mining & Refining during the 2nd quarter worth $13,373,000. Ninepoint Partners LP acquired a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at $9,254,000. Groupe la Francaise acquired a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at $3,969,000. Finally, Moore Capital Management LP acquired a new stake in Sunshine Silver Mining & Refining in the 2nd quarter valued at $3,966,000.

About Sunshine Silver Mining & Refining

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.