Santacruz Silver Mining (NASDAQ:SCZM) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $8.07 and traded as high as $8.15. Santacruz Silver Mining shares last traded at $8.09, with a volume of 349,992 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SCZM shares. Zacks Research cut Santacruz Silver Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. Wall Street Zen raised Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Finally, Maxim Group dropped their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. One investment 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, Santacruz Silver Mining presently has an average rating of “Hold” and a consensus target price of $10.00.

Santacruz Silver Mining Trading Down 2.8%

The company’s fifty day moving average is $8.50 and its 200-day moving average is $8.06.

Santacruz Silver Mining (NASDAQ:SCZM) last posted its earnings results on Friday, August 14th. The company reported $0.02 earnings per share (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, analysts forecast that Santacruz Silver Mining will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Santacruz Silver Mining

Hedge funds have recently made changes to their positions in the company. U S Global Investors Inc. acquired a new stake in shares of Santacruz Silver Mining during the 3rd quarter worth approximately $3,091,000. Susquehanna International Group LLP purchased a new stake in Santacruz Silver Mining during the second quarter worth approximately $401,000. Squarepoint Ops LLC acquired a new position in Santacruz Silver Mining in the second quarter valued at $238,000. NewEdge Advisors LLC purchased a new position in shares of Santacruz Silver Mining during the second quarter worth approximately $212,000. Finally, Engineers Gate Manager LP acquired a new position in Santacruz Silver Mining in the 2nd quarter valued at about $148,000.

About Santacruz Silver Mining

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and production of silver and other metals. Its operations and mining assets are primarily located in Bolivia, where it produces metal-bearing concentrates that include silver, zinc and lead. The company’s Bolivian portfolio includes the Bolívar and Porco mines and the Caballo Blanco group of mining properties. It also has mineral processing facilities that support the treatment of ore from its operations.