Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Down 7.8% - What's Next?

Key Points

• Santacruz Silver Mining shares fell 7.8% to $9.62 in Thursday’s trading, with volume down 37% from the average.
• Analyst sentiment is currently mixed but leans neutral: 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 EPS versus $0.37 expected and revenue of $113.46 million compared with the $135 million consensus estimate.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report)'s share price was down 7.8% during mid-day trading on Thursday . The stock traded as low as $9.67 and last traded at $9.62. 336,172 shares traded hands during trading, a decline of 37% from the average daily volume of 531,004 shares. The stock had previously closed at $10.43.

Analyst Ratings Changes

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

Santacruz Silver Mining Stock Performance

The stock has a 50-day moving average of $7.96. The stock has a market cap of $902.82 million and a PE ratio of 30.41.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $135.00 million. Equities analysts forecast that Santacruz Silver Mining will post 1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Santacruz Silver Mining

Several large investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in shares of Santacruz Silver Mining during the 2nd quarter valued at about $401,000. Tidal Investments LLC purchased a new position in shares of Santacruz Silver Mining during the 2nd quarter worth about $122,000. Engineers Gate Manager LP acquired a new stake in shares of Santacruz Silver Mining in the second quarter worth approximately $148,000. NewEdge Advisors LLC acquired a new stake in shares of Santacruz Silver Mining in the second quarter worth approximately $212,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Santacruz Silver Mining in the second quarter worth approximately $238,000.

About Santacruz Silver Mining

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.

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