Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Down - What's Next?

Key Points

• Santacruz Silver Mining shares fell 6.8%, opening at $8.05 versus the prior close of $8.47 and last trading near $8.00.
• Analyst sentiment is mixed but averages to Hold: one analyst rates the stock Buy, two rate it Hold, and the consensus price target is $10.00 after Maxim Group reduced its target from $12.
• The company missed quarterly expectations, reporting $0.02 EPS versus $0.37 expected and revenue of $113.46 million versus $135 million expected; analysts project full-year EPS of $1.06.

Shares of Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $8.47, but opened at $8.05. Santacruz Silver Mining shares last traded at $7.9960, with a volume of 146,196 shares traded.

Analyst Ratings Changes

A number of analysts have commented on SCZM shares. Wall Street Zen cut Santacruz Silver Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings upgraded Santacruz Silver Mining from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Maxim Group cut their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.00.

Santacruz Silver Mining Trading Down 6.8%

The stock has a fifty day moving average of $9.16. The firm has a market cap of $734.24 million and a P/E ratio of 24.69.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last posted its quarterly earnings results 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 return on equity of 21.55% and a net margin of 9.97%. The business had revenue of $113.46 million for the quarter, compared to analysts' expectations of $135.00 million. Analysts expect that Santacruz Silver Mining will post 1.06 EPS for the current fiscal year.

Institutional Trading of Santacruz Silver Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in SCZM. Susquehanna International Group LLP acquired a new position in Santacruz Silver Mining during the second quarter valued at $401,000. Tidal Investments LLC purchased a new stake in Santacruz Silver Mining in the second quarter valued at $122,000. Engineers Gate Manager LP purchased a new stake in Santacruz Silver Mining in the second quarter valued at $148,000. NewEdge Advisors LLC acquired a new stake in Santacruz Silver Mining during the 2nd quarter worth about $212,000. Finally, Squarepoint Ops LLC acquired a new stake in Santacruz Silver Mining during the 2nd quarter worth about $238,000.

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and production of silver and base metals. Its operations and projects are primarily located in Mexico, a country with a long history of silver mining. The company produces silver concentrates that may also contain lead, zinc and other associated metals.

Santacruz's principal operating asset is the Zimapan Mining District in Hidalgo, Mexico, which includes underground mining and milling operations.

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