Santacruz Silver Mining (NASDAQ:SCZM) Shares Up 8.9% - Time to Buy?

Key Points

• Santacruz Silver Mining shares rose 8.9% to about $9.12, although trading volume was 62% below the average session volume.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $10.00 price target, despite one Buy rating and recent upgrades from Zacks Research and Wall Street Zen.
• The company’s latest quarterly results missed expectations, reporting $0.02 in EPS versus $0.37 expected and revenue of $113.46 million versus the $135 million consensus estimate.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) shares traded up 8.9% during trading on Wednesday . The stock traded as high as $9.16 and last traded at $9.1170. 203,821 shares were traded during mid-day trading, a decline of 62% from the average session volume of 530,268 shares. The stock had previously closed at $8.37.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Maxim Group reduced 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. Zacks Research upgraded shares of Santacruz Silver Mining to a "hold" rating in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Santacruz Silver Mining from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Friday, May 22nd. Finally, Wall Street Zen raised Santacruz Silver Mining from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $10.00.

Santacruz Silver Mining Trading Up 13.0%

The firm's 50 day simple moving average is $7.02. The company has a market capitalization of $876.76 million and a P/E ratio of 31.46.

Santacruz Silver Mining (NASDAQ:SCZM - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.35). Santacruz Silver Mining had a return on equity of 33.35% and a net margin of 15.97%.The company had revenue of $113.46 million during the quarter, compared to analyst estimates of $135.00 million. Equities analysts predict that Santacruz Silver Mining will post 1.51 earnings per share for the current year.

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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