Sunshine Silver Mining & Refining Company’s Quiet Period Set To Expire on July 14th (NYSE:SSMR)

Sunshine Silver Mining & Refining’s (NYSE:SSMR) quiet period is set to end on Tuesday, July 14th. Sunshine Silver Mining & Refining had issued 20,000,000 shares in its initial public offering on June 4th. The total size of the offering was $270,000,000 based on an initial share price of $13.50. During Sunshine Silver Mining & Refining’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

SSMR has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Sunshine Silver Mining & Refining from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research raised shares of Sunshine Silver Mining & Refining to a “hold” rating in a research note on Tuesday, June 30th. Morgan Stanley initiated coverage on shares of Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued an “overweight” rating and a $23.00 price objective for the company. Citigroup began coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Scotiabank started coverage on Sunshine Silver Mining & Refining in a research report on Monday, June 29th. They set a “sector outperform” rating and a $20.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Sunshine Silver Mining & Refining Stock Performance

Shares of Sunshine Silver Mining & Refining stock opened at $14.61 on Tuesday. Sunshine Silver Mining & Refining has a 52 week low of $12.56 and a 52 week high of $17.15.

Insiders Place Their Bets

In related news, Director Douglas Groh bought 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $13.50 per share, with a total value of $135,000.00. Following the completion of the purchase, the director owned 143,929 shares of the company’s stock, valued at $1,943,041.50. This represents a 7.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Heather Eileen White bought 2,000 shares of Sunshine Silver Mining & Refining stock in a transaction on Friday, June 5th. The shares were bought at an average price of $13.50 per share, for a total transaction of $27,000.00. Following the acquisition, the chief executive officer owned 2,000 shares of the company’s stock, valued at approximately $27,000. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 59,565 shares of company stock valued at $804,128 in the last ninety days.