Santacruz Silver Mining (NASDAQ:SCZM) Shares Up 13.5% - What's Next?

Key Points

• Santacruz Silver Mining shares rose 13.5% in Wednesday’s mid-day trading, reaching about $7.69; trading volume was 40% below its average.
• Analyst sentiment is mixed but averages to Hold, with a $10 price target. Maxim Group lowered its target from $12 while keeping a Buy rating, and other firms downgraded their ratings.
• The company’s latest reported quarter missed expectations: earnings were $0.02 per share versus a $0.37 consensus, and revenue was $113.46 million versus $135 million expected.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report)'s share price was up 13.5% during mid-day trading on Wednesday. The company traded as high as $7.69 and last traded at $7.6870. 305,233 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 510,080 shares. The stock had previously closed at $6.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Maxim Group reduced their price target on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, July 17th. Zacks Research cut Santacruz Silver Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, October 23rd. Weiss Ratings downgraded Santacruz Silver Mining from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, October 26th. Finally, Wall Street Zen cut Santacruz Silver Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Santacruz Silver Mining has an average rating of "Hold" and an average target price of $10.00.

Santacruz Silver Mining Stock Up 13.6%

The company has a market cap of $715.17 million and a PE ratio of 24.03. The firm's fifty day simple moving average is $8.74 and its 200-day simple moving average is $8.08.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.02 earnings per share 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. On average, analysts predict that Santacruz Silver Mining will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Santacruz Silver Mining

Several hedge funds have recently bought and sold shares of SCZM. Verus Capital Partners LLC increased its position in Santacruz Silver Mining by 12.0% during the 3rd quarter. Verus Capital Partners LLC now owns 14,000 shares of the company's stock worth $124,000 after purchasing an additional 1,500 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Santacruz Silver Mining in the 3rd quarter valued at about $102,000. Compass Ion Advisors LLC purchased a new position in Santacruz Silver Mining in the 3rd quarter valued at about $95,000. U S Global Investors Inc. purchased a new position in Santacruz Silver Mining in the 3rd quarter valued at about $3,091,000. Finally, Tidal Investments LLC purchased a new stake in Santacruz Silver Mining in the 2nd quarter worth approximately $122,000.

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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