Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Up 8.9% – Still a Buy?

Santacruz Silver Mining (NASDAQ:SCZM)’s share price rose 8.9% during mid-day trading on Wednesday . The stock traded as high as $9.16 and last traded at $9.1170. 203,821 shares traded hands during trading, a decline of 62% from the average daily volume of 530,268 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

SCZM has been the topic of a number of recent analyst reports. Maxim Group dropped their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Santacruz Silver Mining in a research note on Wednesday. Wall Street Zen raised shares of Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded shares of Santacruz Silver Mining to a “hold” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Santacruz Silver Mining presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Santacruz Silver Mining Stock Performance

The business has a 50 day moving average of $7.15. The firm has a market capitalization of $905.14 million and a price-to-earnings ratio of 32.53.

Santacruz Silver Mining (NASDAQ:SCZM) last issued its earnings results on Friday, August 14th. The company reported $0.02 earnings per share 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 during the quarter, compared to the consensus estimate of $135.00 million. On average, sell-side analysts anticipate that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of Santacruz Silver Mining

An institutional investor recently bought a new position in Santacruz Silver Mining stock. Susquehanna International Group LLP bought a new stake in shares of Santacruz Silver Mining (NASDAQ:SCZM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 61,756 shares of the company’s stock, valued at approximately $401,000. Susquehanna International Group LLP owned 0.07% of Santacruz Silver Mining as of its most recent SEC filing.

About Santacruz Silver Mining

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.