Santacruz Silver Mining (NASDAQ:SCZM) Trading 8.3% Higher - Time to Buy?

Key Points

• Santacruz Silver Mining shares rose 8.3% to about $9.97, though trading volume was 83% below the average session volume.
• Analyst sentiment remains cautious: the stock carries an average “Hold” rating and a $10.00 average price target, while one analyst downgraded it and Maxim Group cut its target from $12 to $10.
• The company missed quarterly expectations, reporting $0.02 EPS versus the $0.37 consensus estimate and revenue of $113.46 million versus $135 million expected. Susquehanna International Group nevertheless initiated a position worth approximately $401,000.

Shares of Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) traded up 8.3% on Wednesday . The company traded as high as $9.95 and last traded at $9.9680. 91,534 shares changed hands during trading, a decline of 83% from the average session volume of 531,255 shares. The stock had previously closed at $9.20.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SCZM shares. Wall Street Zen lowered Santacruz Silver Mining from a "buy" rating to a "hold" rating in a research report on Saturday. Maxim Group lowered 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. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Santacruz Silver Mining in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.00.

Santacruz Silver Mining Stock Up 9.7%

The firm's 50-day moving average is $7.52. The stock has a market cap of $936.21 million and a price-to-earnings ratio of 31.39.

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 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 firm had revenue of $113.46 million during the quarter, compared to analyst estimates of $135.00 million. On average, equities research analysts anticipate that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Santacruz Silver Mining stock. Susquehanna International Group LLP acquired a new position in shares of Santacruz Silver Mining (NASDAQ:SCZM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 61,756 shares of the company's stock, valued at approximately $401,000. Susquehanna International Group LLP owned 0.07% of Santacruz Silver Mining as of its most recent SEC filing.

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.

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