Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Up 5.5% – Here’s What Happened

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price was up 5.5% during trading on Friday. The stock traded as high as $9.41 and last traded at $9.4150. Approximately 211,922 shares were traded during trading, a decline of 60% from the average daily volume of 528,477 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SCZM. Weiss Ratings cut Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Wall Street Zen lowered Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Maxim Group lowered their target price on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Santacruz Silver Mining Stock Performance

The firm has a market cap of $882.66 million and a PE ratio of 29.61. The business has a 50-day moving average of $8.54.

Santacruz Silver Mining (NASDAQ:SCZM) last announced its quarterly earnings data 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 analyst estimates of $135.00 million. Santacruz Silver Mining had a net margin of 9.97% and a return on equity of 21.55%. Sell-side analysts forecast that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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