Ninepoint Partners LP Invests $9.25 Million in Sunshine Silver Mining & Refining Company $SSMR

Ninepoint Partners LP purchased a new stake in Sunshine Silver Mining & Refining Company (NYSE:SSMR – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund purchased 700,000 shares of the company’s stock, valued at approximately $9,254,000. Sunshine Silver Mining & Refining makes up approximately 0.7% of Ninepoint Partners LP’s holdings, making the stock its 23rd largest position.

Sunshine Silver Mining & Refining Price Performance

Shares of NYSE:SSMR opened at $17.50 on Friday. Sunshine Silver Mining & Refining Company has a twelve month low of $12.51 and a twelve month high of $17.50. The firm has a fifty day simple moving average of $14.47.

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Sunshine Silver Mining & Refining (NYSE:SSMR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Equities analysts anticipate that Sunshine Silver Mining & Refining Company will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lawrence P. Radford bought 2,500 shares of Sunshine Silver Mining & Refining stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $33,750.00. Following the completion of the transaction, the director owned 11,429 shares of the company’s stock, valued at approximately $154,291.50. This trade represents a 28.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Real Assets Fund Lp Ospraie sold 555,555 shares of the 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 sale, the insider directly owned 24,758,995 shares in the company, valued at $334,246,432.50. This trade represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders purchased 59,565 shares of company stock valued at $804,128.

Wall Street Analyst Weigh In

SSMR has been the subject of several recent analyst reports. Royal Bank Of Canada assumed coverage on Sunshine Silver Mining & Refining in a research note on Monday, June 29th. They set a “sector perform” rating and a $15.00 price objective for the company. Canaccord Genuity Group began coverage on shares of Sunshine Silver Mining & Refining in a research report on Tuesday. They set a “speculative buy” rating and a $20.00 target price for the company. Citigroup initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued a “buy” rating and a $18.00 price target 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. Finally, Zacks Research upgraded shares of Sunshine Silver Mining & Refining to a “hold” rating in a research note on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.92.

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Sunshine Silver Mining & Refining Company Profile

(Free Report)

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.

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