Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Down – What’s Next?

Shares of Santacruz Silver Mining (NASDAQ:SCZM) gapped down prior to trading on Wednesday. The stock had previously closed at $8.47, but opened at $8.05. Santacruz Silver Mining shares last traded at $7.9960, with a volume of 146,196 shares trading hands.

Wall Street Analyst Weigh In

SCZM has been the topic of several analyst reports. Maxim Group dropped 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. Weiss Ratings upgraded Santacruz Silver Mining from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen cut Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

Santacruz Silver Mining Price Performance

The stock has a market capitalization of $734.24 million and a PE ratio of 24.69. The company’s fifty day moving average is $9.16.

Santacruz Silver Mining (NASDAQ:SCZM) last posted its 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 firm had revenue of $113.46 million during the quarter, compared to analyst estimates of $135.00 million. Analysts anticipate that Santacruz Silver Mining will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Santacruz Silver Mining in the second quarter worth about $122,000. Engineers Gate Manager LP purchased a new stake in shares of Santacruz Silver Mining during the 2nd quarter worth about $148,000. NewEdge Advisors LLC purchased a new stake in shares of Santacruz Silver Mining during the 2nd quarter worth about $212,000. Squarepoint Ops LLC acquired a new stake in shares of Santacruz Silver Mining during the 2nd quarter valued at about $238,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Santacruz Silver Mining during the 2nd quarter valued at about $51,000.

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and production of silver and base metals. Its operations and projects are primarily located in Mexico, a country with a long history of silver mining. The company produces silver concentrates that may also contain lead, zinc and other associated metals.

Santacruz’s principal operating asset is the Zimapan Mining District in Hidalgo, Mexico, which includes underground mining and milling operations.