Santacruz Silver Mining (NASDAQ:SCZM) Shares Up 5.1% - Should You Buy?

Key Points

• Santacruz Silver Mining shares rose 5.1% to about $10.47, with roughly 274,000 shares traded—48% below average volume.
• Analyst sentiment is cautious: the consensus rating is Hold, with one Buy and two Hold ratings, and an average price target of $10.00.
• The company missed quarterly expectations, reporting $0.02 in EPS versus $0.37 expected and revenue of $113.46 million versus $135 million projected, despite a 21.55% return on equity and 9.97% net margin.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report)'s stock price traded up 5.1% during mid-day trading on Wednesday . The stock traded as high as $10.49 and last traded at $10.4740. Approximately 273,986 shares traded hands during trading, a decline of 48% from the average session volume of 530,804 shares. The stock had previously closed at $9.97.

Wall Street Analysts Forecast Growth

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

Santacruz Silver Mining Stock Performance

The stock has a market capitalization of $953.38 million and a PE ratio of 32.20. The business's 50-day moving average price is $7.89.

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

Hedge Funds Weigh In On Santacruz Silver Mining

Institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. acquired a new stake in shares of Santacruz Silver Mining during the 2nd quarter valued at approximately $51,000. Tidal Investments LLC bought a new position in shares of Santacruz Silver Mining in the 2nd quarter worth about $122,000. Engineers Gate Manager LP acquired a new position in shares of Santacruz Silver Mining in the 2nd quarter valued at about $148,000. NewEdge Advisors LLC acquired a new position in shares of Santacruz Silver Mining in the 2nd quarter valued at about $212,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Santacruz Silver Mining during the 2nd quarter valued at about $238,000.

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Inc Nasdaq: SCZM is a precious metals company focused on the exploration, development and production of silver and gold resources. The company's business centers on acquiring and advancing mineral properties, conducting exploration programs to expand resources, and operating or re‑starting mines to produce payable metal. As a publicly traded issuer, Santacruz reports results and project updates through routine regulatory filings and investor communications.

Operationally, Santacruz is primarily involved in the full cycle of mining activities that include drilling and resource definition, mine development and production, on‑site ore processing or concentrate production, and the sale of metal production to smelters and concentrate buyers.

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.