Santacruz Silver Mining (NASDAQ:SCZM) Trading Up 8.3% – Here’s What Happened

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price traded up 8.3% on Wednesday . The company traded as high as $9.95 and last traded at $9.9680. 91,534 shares were traded during trading, a decline of 83% from the average session volume of 531,255 shares. The stock had previously closed at $9.20.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SCZM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Santacruz Silver Mining in a research report on Wednesday, August 19th. Maxim Group decreased their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, July 17th. Finally, Wall Street Zen lowered Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Santacruz Silver Mining Price Performance

The firm has a market cap of $936.21 million and a P/E ratio of 31.39. The company has a 50 day moving average of $7.52.

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 the consensus estimate 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 analyst estimates of $135.00 million. On average, equities analysts expect that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Santacruz Silver Mining

An institutional investor recently bought a new stake in Santacruz Silver Mining stock. Susquehanna International Group LLP purchased a new position in shares of Santacruz Silver Mining (NASDAQ:SCZM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 61,756 shares of the company’s stock, valued at approximately $401,000. Susquehanna International Group LLP owned about 0.07% of Santacruz Silver Mining at the end of the most recent quarter.

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.