Santacruz Silver Mining (NASDAQ:SCZM) Shares Up 8.1% – Still a Buy?

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

Analyst Ratings Changes

Several research analysts have weighed in on SCZM shares. Wall Street Zen downgraded Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Maxim Group decreased their price objective 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. Finally, Weiss Ratings lowered Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. One investment 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.com, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

Santacruz Silver Mining Price Performance

The firm has a market cap of $886.29 million and a PE ratio of 29.78. The business’s 50-day moving average is $8.32.

Santacruz Silver Mining (NASDAQ:SCZM) last released 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 company had revenue of $113.46 million for the quarter, compared to the consensus estimate 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 anticipate that Santacruz Silver Mining will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. bought a new position in Santacruz Silver Mining during the second quarter valued at about $51,000. Tidal Investments LLC bought a new stake in shares of Santacruz Silver Mining in the second quarter valued at approximately $122,000. Engineers Gate Manager LP acquired a new stake in Santacruz Silver Mining in the 2nd quarter worth $148,000. NewEdge Advisors LLC acquired a new stake in Santacruz Silver Mining during the second quarter worth about $212,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Santacruz Silver Mining during the second quarter valued at approximately $238,000.

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.