Is SSMR halal?
Sunshine Silver Mining & Refini
Not halal
Sunshine Silver Mining & Refini did not pass AAOIFI screening. The failed check is shown below.
Checked: 12 October 2026
Exchange
NYSE
Price
11.58
Day
-3.98%
Market cap
$2.14B
Industry
Other Industrial Metals & Mining
Sector
Basic Materials
What the company does
Sunshine Silver Mining & Refining is preparing to restart the historic Sunshine silver mine in Idaho, listed in 2026. No revenue yet; funded by investors.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $232K ÷ current market cap $2.14B = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $288.72M ÷ current market cap $2.14B = 13.5%
13.5%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $299K ÷ annual revenue $501K (2025) = 59.6%
59.6%
Fail
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Other Industrial Metals & Mining — for comparison.
Related articles
- Halal investingBlogHaram revenue you can't see from the industry label: pork, weapons, casinosPork hides under "Packaged Foods", weapons under "Aerospace & Defense". What automated screening misses and how we catch it by hand.
- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.