Santacruz Silver Mining (NASDAQ:SCZM) Shares Down 4.2% - Here's What Happened

Key Points

• Santacruz Silver Mining shares fell 4.2% to about $9.13, with trading volume down 87% from its average.
• Analyst sentiment is mostly cautious: the stock has an average “Hold” rating from three analysts, with a $10.00 average price target.
• The company missed quarterly expectations, reporting $0.02 in EPS versus $0.37 expected and revenue of $113.46 million versus the $135 million consensus estimate.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report)'s stock price was down 4.2% on Monday . The stock traded as low as $9.12 and last traded at $9.1250. Approximately 68,685 shares changed hands during trading, a decline of 87% from the average daily volume of 529,777 shares. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SCZM shares. Wall Street Zen lowered Santacruz Silver Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Maxim Group decreased their price objective on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a "buy" rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings cut shares of Santacruz Silver Mining from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Santacruz Silver Mining presently has an average rating of "Hold" and an average target price of $10.00.

Santacruz Silver Mining Stock Performance

The firm has a market cap of $852.30 million and a price-to-earnings ratio of 28.63. The firm has a 50 day simple moving average of $8.32.

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

Institutional Investors Weigh In On Santacruz Silver Mining

A number of large investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new position in Santacruz Silver Mining in the 2nd quarter worth $122,000. Engineers Gate Manager LP purchased a new stake in Santacruz Silver Mining during the 2nd quarter valued at about $148,000. NewEdge Advisors LLC acquired a new position in shares of Santacruz Silver Mining in the second quarter valued at about $212,000. Squarepoint Ops LLC purchased a new position in shares of Santacruz Silver Mining in the second quarter worth about $238,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Santacruz Silver Mining during the second quarter worth about $51,000.

About Santacruz Silver Mining

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the acquisition, exploration, development and operation of silver and polymetallic properties. The company produces silver along with lead, zinc and other associated metals from its mining operations and processing facilities.

Santacruz's principal operating activities are located in Mexico, a country with a long-established mining industry. Its portfolio has included the Zimapan mining complex in Hidalgo, the Rosario mine in San Luis Potosí and the Veta Grande project in Zacatecas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.