Santacruz Silver Mining (NASDAQ:SCZM) Trading 8.1% Higher - Time to Buy?

Key Points

• Shares rose 8.1% to about $8.99, although trading volume was roughly 80% below the average daily level.
• Analysts have a consensus “Hold” rating with an average price target of $10.00; Maxim Group lowered its target from $12.00 to $10.00 while retaining a Buy rating.
• The company’s latest quarterly results fell short of expectations, reporting $0.02 EPS versus $0.37 expected and revenue of $113.46 million versus the $135 million consensus estimate.

Shares of Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) rose 8.1% on Thursday . The company traded as high as $8.95 and last traded at $8.9850. Approximately 103,540 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 527,877 shares. The stock had previously closed at $8.31.

Wall Street Analysts Forecast Growth

SCZM has been the topic of several recent research reports. Wall Street Zen lowered shares of Santacruz Silver Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Maxim Group dropped their target price on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a "buy" rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings cut shares of Santacruz Silver Mining from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, September 2nd. One investment 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 a consensus rating of "Hold" and an average price target of $10.00.

Santacruz Silver Mining Trading Up 7.1%

The business has a 50-day moving average price of $8.21. The company has a market cap of $827.98 million and a PE ratio of 27.83.

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

Institutional Trading of Santacruz Silver Mining

Several hedge funds and other institutional investors have recently bought and sold shares of SCZM. Susquehanna International Group LLP acquired a new position in Santacruz Silver Mining in the 2nd quarter valued at $401,000. Squarepoint Ops LLC purchased a new stake in shares of Santacruz Silver Mining in the second quarter valued at $238,000. NewEdge Advisors LLC acquired a new position in Santacruz Silver Mining in the second quarter valued at $212,000. Engineers Gate Manager LP acquired a new position in Santacruz Silver Mining in the second quarter valued at $148,000. Finally, Tidal Investments LLC purchased a new position in Santacruz Silver Mining during the second quarter worth about $122,000.

Santacruz Silver Mining Company Profile

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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