Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Down 7% – Here’s What Happened

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price traded down 7% during trading on Friday . The stock traded as low as $6.37 and last traded at $6.3060. Approximately 39,571 shares were traded during trading, a decline of 93% from the average daily volume of 531,742 shares. The stock had previously closed at $6.78.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings raised Santacruz Silver Mining from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Maxim Group lowered their target price on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Wall Street Zen upgraded Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, Zacks Research raised Santacruz Silver Mining to a “hold” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.00.

Santacruz Silver Mining Stock Down 4.0%

The firm’s 50-day moving average is $6.86. The firm has a market cap of $603.74 million and a price-to-earnings ratio of 21.67.

Santacruz Silver Mining (NASDAQ:SCZM) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.11). The firm had revenue of $127.53 million for the quarter, compared to analyst estimates of $124.00 million.

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.