Santacruz Silver Mining (NASDAQ:SCZM) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Santacruz Silver Mining from “Hold” to “Buy,” while the broader analyst consensus remains “Hold” with a $10 target price.
• The company missed quarterly estimates, reporting EPS of $0.02 versus $0.37 expected and revenue of $113.46 million versus $135 million forecast.
• Shares opened at $7.52 and have traded between $4.68 and $17.65 over the past 52 weeks.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on SCZM. Maxim Group reduced their price target on Santacruz Silver Mining from $12.00 to $10.00 and set a "buy" rating for the company in a report on Friday, July 17th. Zacks Research downgraded shares of Santacruz Silver Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, October 23rd. Finally, Weiss Ratings lowered shares of Santacruz Silver Mining from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.00.

Santacruz Silver Mining Stock Up 2.7%

Shares of SCZM opened at $7.52 on Friday. The firm's 50 day moving average price is $8.60 and its 200 day moving average price is $8.07. Santacruz Silver Mining has a fifty-two week low of $4.68 and a fifty-two week high of $17.65.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.35). The business had revenue of $113.46 million during the quarter, compared to analyst estimates of $135.00 million. Santacruz Silver Mining had a net margin of 9.97% and a return on equity of 21.55%. On average, equities research analysts forecast that Santacruz Silver Mining will post 0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Santacruz Silver Mining

Large investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in shares of Santacruz Silver Mining in the 2nd quarter valued at approximately $51,000. Compass Ion Advisors LLC purchased a new position in shares of Santacruz Silver Mining in the 3rd quarter worth about $95,000. Commonwealth Equity Services LLC bought a new position in Santacruz Silver Mining during the 3rd quarter valued at approximately $102,000. Tidal Investments LLC bought a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth approximately $122,000. Finally, Verus Capital Partners LLC grew its stake in shares of Santacruz Silver Mining by 12.0% during the 3rd quarter. Verus Capital Partners LLC now owns 14,000 shares of the company's stock valued at $124,000 after purchasing an additional 1,500 shares during the period.

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and operation of silver, lead and zinc properties in Mexico. The company produces mineral concentrates containing silver and base metals, which are sold to smelters and other processing customers.

Santacruz's Mexican operating portfolio has included the Zimapan mine complex in Hidalgo, the La Encantada mine in Coahuila and the Rosario mine in San Luis Potosi, along with the Veta Grande property in Zacatecas.

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