Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Down – Time to Sell?

by · The Cerbat Gem

Shares of Santacruz Silver Mining (NASDAQ:SCZM – Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $8.47, but opened at $8.05. Santacruz Silver Mining shares last traded at $7.9960, with a volume of 146,196 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SCZM. Weiss Ratings raised Santacruz Silver Mining from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Maxim Group decreased their price target on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Read Our Latest Research Report on SCZM

Santacruz Silver Mining Stock Performance

The company’s fifty day moving average price is $9.17.

Santacruz Silver Mining (NASDAQ:SCZM – Get Free Report) last issued its quarterly 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 firm had revenue of $113.46 million for the quarter, compared to analyst estimates of $135.00 million. Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%. Analysts predict that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Santacruz Silver Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new position in shares of Santacruz Silver Mining during the 2nd quarter worth approximately $401,000. Squarepoint Ops LLC acquired a new stake in shares of Santacruz Silver Mining in the 2nd quarter valued at approximately $238,000. NewEdge Advisors LLC acquired a new stake in shares of Santacruz Silver Mining in the 2nd quarter valued at approximately $212,000. Engineers Gate Manager LP purchased a new stake in shares of Santacruz Silver Mining in the second quarter valued at approximately $148,000. Finally, Tidal Investments LLC purchased a new stake in shares of Santacruz Silver Mining in the second quarter valued at approximately $122,000.

About Santacruz Silver Mining

(Get Free Report)

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and production of silver and base metals. Its operations and projects are primarily located in Mexico, a country with a long history of silver mining. The company produces silver concentrates that may also contain lead, zinc and other associated metals.

Santacruz’s principal operating asset is the Zimapan Mining District in Hidalgo, Mexico, which includes underground mining and milling operations.

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