Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Down 9.7% – Should You Sell?

Santacruz Silver Mining (NASDAQ:SCZM)’s share price was down 9.7% during trading on Thursday. The company traded as low as $7.36 and last traded at $7.3780. 95,137 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 512,811 shares. The stock had previously closed at $8.17.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SCZM. Zacks Research upgraded Santacruz Silver Mining from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 16th. Weiss Ratings upgraded shares of Santacruz Silver Mining from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Maxim Group cut their target price on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.00.

Santacruz Silver Mining Stock Down 2.5%

The stock’s fifty day moving average price is $9.06 and its two-hundred day moving average price is $8.12. The company has a market capitalization of $646.35 million and a PE ratio of 21.72.

Santacruz Silver Mining (NASDAQ:SCZM) last announced 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). Santacruz Silver Mining had a net margin of 9.97% and a return on equity of 21.55%. The business had revenue of $113.46 million for the quarter, compared to analysts’ expectations of $135.00 million. On average, equities research analysts forecast that Santacruz Silver Mining will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Santacruz Silver Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Compass Ion Advisors LLC purchased a new position in Santacruz Silver Mining during the 3rd quarter valued at $95,000. U S Global Investors Inc. bought a new position in Santacruz Silver Mining in the 3rd quarter worth $3,091,000. Tidal Investments LLC purchased a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth about $122,000. Engineers Gate Manager LP purchased a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth about $148,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Santacruz Silver Mining during the 2nd quarter valued at about $212,000.

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and operation of silver, lead and zinc properties in Mexico. The company produces mineral concentrates containing silver and base metals, which are sold to smelters and other processing customers.

Santacruz’s Mexican operating portfolio has included the Zimapan mine complex in Hidalgo, the La Encantada mine in Coahuila and the Rosario mine in San Luis Potosi, along with the Veta Grande property in Zacatecas.