350,000 Shares of Santacruz Silver Mining $SCZM Purchased by U S Global Investors Inc.

Key Points

• U.S. Global Investors bought 350,000 Santacruz Silver Mining shares worth approximately $3.09 million, representing about 0.38% of the company. Several other institutional investors also initiated positions during the second quarter.
• Analysts maintain an overall “Buy” rating with an average price target of $10.00, although Maxim Group lowered its target from $12.00 to $10.00 and ratings remain mixed.
• Santacruz shares opened at $7.13, well below their 52-week high of $17.65. The company’s latest quarterly results missed expectations, reporting $0.02 in EPS versus $0.37 expected and revenue of $113.46 million versus $135 million forecast.

U S Global Investors Inc. purchased a new position in Santacruz Silver Mining (NASDAQ:SCZM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 350,000 shares of the company's stock, valued at approximately $3,091,000. U S Global Investors Inc. owned approximately 0.38% of Santacruz Silver Mining at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SCZM. TD Waterhouse Canada Inc. bought a new stake in Santacruz Silver Mining during the 2nd quarter valued at approximately $51,000. Tidal Investments LLC purchased a new position in shares of Santacruz Silver Mining during the 2nd quarter worth approximately $122,000. Engineers Gate Manager LP purchased a new position in shares of Santacruz Silver Mining during the 2nd quarter worth approximately $148,000. NewEdge Advisors LLC bought a new position in shares of Santacruz Silver Mining in the 2nd quarter worth approximately $212,000. Finally, Squarepoint Ops LLC bought a new position in shares of Santacruz Silver Mining in the 2nd quarter worth approximately $238,000.

Analysts Set New Price Targets

A number of research firms have recently commented on SCZM. Zacks Research upgraded Santacruz Silver Mining from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 16th. Wall Street Zen lowered Santacruz Silver Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings raised Santacruz Silver Mining from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Maxim Group decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Santacruz Silver Mining presently has an average rating of "Buy" and an average price target of $10.00.

Santacruz Silver Mining Price Performance

Shares of NASDAQ SCZM opened at $7.13 on Friday. Santacruz Silver Mining has a 1 year low of $4.68 and a 1 year high of $17.65. The company's 50-day simple moving average is $9.09.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.35). The business had revenue of $113.46 million for the quarter, compared to the consensus estimate of $135.00 million. Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%. As a group, research analysts forecast that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

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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