Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Up - Here's Why

Key Points

• Santacruz Silver Mining shares opened higher, rising from a previous close of $8.92 to $9.27 before trading near $8.95, with 94,217 shares changing hands.
• Analyst sentiment is mixed but cautious: the average rating is “Hold” with a $10.00 price target, while Maxim lowered its target to $10.00 but maintained a Buy rating.
• The company reported quarterly EPS of $0.02, well below the $0.37 consensus estimate, and revenue of $113.46 million versus expectations of $135 million.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $8.92, but opened at $9.27. Santacruz Silver Mining shares last traded at $8.9460, with a volume of 94,217 shares.

Analysts Set New Price Targets

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

Santacruz Silver Mining Stock Up 3.0%

The company has a fifty day moving average of $8.26. The company has a market cap of $854.62 million and a price-to-earnings ratio of 28.81.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.02 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 firm 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 Trading of Santacruz Silver Mining

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

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.

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