Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Up 8% - Time to Buy?

Key Points

• Santacruz Silver Mining shares jumped 8.1% to about $9.16, although trading volume was 73% below the stock’s average daily volume.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $10.00 price target, while recent firms downgraded the stock or reduced their targets.
• The company’s latest quarter fell short of expectations, reporting $0.02 EPS versus $0.37 projected and revenue of $113.46 million versus $135 million expected.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) shares rose 8% during mid-day trading on Friday. The stock traded as high as $9.08 and last traded at $9.1550. 140,962 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 521,193 shares. The stock had previously closed at $8.48.

Wall Street Analysts Forecast Growth

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

Santacruz Silver Mining Stock Up 8.1%

The stock has a fifty day moving average price of $9.04. The firm has a market cap of $852.76 million and a P/E ratio of 28.65.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last announced 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 net margin of 9.97% and a return on equity of 21.55%. The company had revenue of $113.46 million for the quarter, compared to analysts' expectations of $135.00 million. As a group, analysts forecast 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 modified their holdings of SCZM. Susquehanna International Group LLP purchased a new stake in shares of Santacruz Silver Mining during the second quarter worth about $401,000. Squarepoint Ops LLC bought a new stake in Santacruz Silver Mining in the 2nd quarter worth approximately $238,000. NewEdge Advisors LLC bought a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth about $212,000. Engineers Gate Manager LP bought a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth about $148,000. Finally, Tidal Investments LLC bought a new position in shares of Santacruz Silver Mining during the 2nd quarter valued at approximately $122,000.

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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