Santacruz Silver Mining (CVE:SCZ) Shares Up 8.9% – Time to Buy?

Santacruz Silver Mining Ltd. (CVE:SCZ)’s stock price was up 8.9% during mid-day trading on Wednesday . The stock traded as high as C$3.12 and last traded at C$3.06. Approximately 2,636,018 shares traded hands during trading, an increase of 151% from the average daily volume of 1,049,601 shares. The stock had previously closed at C$2.81.

Santacruz Silver Mining Stock Up 8.9%

The stock has a market capitalization of C$1.12 billion, a P/E ratio of 19.13 and a beta of 2.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.22 and a quick ratio of 0.51. The stock has a fifty day moving average price of C$2.25 and a 200 day moving average price of C$1.73.

Insider Activity

In other news, Director Larry Minoru Okada sold 105,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$2.25, for a total value of C$236,250.00. Following the sale, the director directly owned 52,667 shares of the company’s stock, valued at approximately C$118,500.75. This represents a 66.60% decrease in their ownership of the stock. Also, Director W. Barry Girling sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of C$2.28, for a total transaction of C$45,600.00. Following the completion of the transaction, the director owned 1,215,900 shares of the company’s stock, valued at C$2,772,252. This trade represents a 1.62% decrease in their ownership of the stock. Insiders have sold a total of 240,000 shares of company stock worth $539,150 over the last ninety days. Company insiders own 7.00% of the company’s stock.

About Santacruz Silver Mining

Santacruz Silver Mining Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral properties in Latin America. The company primarily explores for silver and zinc, as well as lead and copper deposits. It holds 100% interests in the Zimapan Mine that consists of 34 mining concessions covering an area of 5,139 hectares located in Hidalgo, Mexico; the Sinchi Wayra and the Illapa assets located in Bolivia; and exploration properties, which include the La Pechuga Property and the Santa Gorgonia Prospect.