Santacruz Silver Mining (NASDAQ:SCZM) Trading Down 7.8% – What’s Next?
by Danessa Lincoln · The Markets DailyShares of Santacruz Silver Mining (NASDAQ:SCZM – Get Free Report) dropped 7.8% on Thursday . The company traded as low as $9.67 and last traded at $9.62. 336,172 shares traded hands during trading, a decline of 37% from the average session volume of 531,004 shares. The stock had previously closed at $10.43.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Weiss Ratings downgraded Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Wall Street Zen downgraded shares of Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Maxim Group dropped their price objective on shares of 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 research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.
Read Our Latest Research Report on Santacruz Silver Mining
Santacruz Silver Mining Trading Down 0.4%
The firm has a market cap of $894.95 million and a price-to-earnings ratio of 30.16. The stock has a 50 day moving average price of $8.08.
Santacruz Silver Mining (NASDAQ:SCZM – Get Free Report) last announced 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). Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%.The business had revenue of $113.46 million for the quarter, compared to analyst estimates of $135.00 million. Equities research analysts predict that Santacruz Silver Mining will post 1.06 EPS for the current year.
Institutional Investors Weigh In On Santacruz Silver Mining
Large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in Santacruz Silver Mining during the 2nd quarter worth $401,000. Squarepoint Ops LLC bought a new stake in shares of Santacruz Silver Mining during the 2nd quarter valued at $238,000. NewEdge Advisors LLC acquired a new stake in shares of Santacruz Silver Mining during the 2nd quarter worth $212,000. Engineers Gate Manager LP acquired a new stake in shares of Santacruz Silver Mining during the 2nd quarter worth $148,000. Finally, Tidal Investments LLC bought a new position in shares of Santacruz Silver Mining in the second quarter worth $122,000.
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.