Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Down – Time to Sell?

Shares of Santacruz Silver Mining (NASDAQ:SCZM) gapped down prior to trading on Wednesday . The stock had previously closed at $6.62, but opened at $6.27. Santacruz Silver Mining shares last traded at $6.4260, with a volume of 115,032 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCZM. Weiss Ratings raised shares of Santacruz Silver Mining from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Zacks Research upgraded Santacruz Silver Mining to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen raised Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Maxim Group initiated coverage on Santacruz Silver Mining in a research report on Wednesday, April 8th. They set a “buy” rating and a $12.00 target price for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Santacruz Silver Mining presently has a consensus rating of “Hold” and an average target price of $12.00.

Santacruz Silver Mining Stock Performance

The stock has a market capitalization of $597.25 million and a price-to-earnings ratio of 21.47. The business’s 50 day simple moving average is $8.01.

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