Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Up - Still a Buy?

Key Points

• Santacruz Silver Mining shares opened higher, rising from a prior close of $9.76 to $10.26 before trading at $9.76, with 172,494 shares changing hands.
• Analyst sentiment remains mixed: the consensus rating is “Hold”, with one Buy and two Hold ratings and an average price target of $10.00. Maxim Group lowered its target from $12 to $10 while maintaining a Buy rating.
• The company missed quarterly expectations, reporting $0.02 in EPS versus $0.37 expected and revenue of $113.46 million versus $135 million forecast. Its market capitalization is approximately $924.6 million, and Susquehanna recently acquired a 61,756-share stake.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $9.76, but opened at $10.26. Santacruz Silver Mining shares last traded at $9.76, with a volume of 172,494 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SCZM shares. Wall Street Zen raised Santacruz Silver Mining from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Weiss Ratings restated a "hold (c+)" rating on shares of Santacruz Silver Mining in a research report on Wednesday. Maxim Group cut their target price 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. Finally, Zacks Research raised shares of Santacruz Silver Mining to a "hold" rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.00.

Santacruz Silver Mining Trading Up 2.2%

The business's 50 day simple moving average is $7.15. The firm has a market capitalization of $924.63 million and a PE ratio of 33.23.

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

Institutional Trading of Santacruz Silver Mining

An institutional investor recently bought a new stake in Santacruz Silver Mining stock. Susquehanna International Group LLP acquired a new stake in shares of Santacruz Silver Mining (NASDAQ:SCZM - Free Report) during the second quarter, according to the company in its most recent 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 at the end of the most recent reporting period.

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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