Santacruz Silver Mining (NASDAQ:SCZM) Trading Down 4.2% – What’s Next?

Santacruz Silver Mining (NASDAQ:SCZM) dropped 4.2% during trading on Monday . The stock traded as low as $9.12 and last traded at $9.1250. 68,685 shares traded hands during trading, a decline of 87% from the average daily volume of 529,777 shares. The stock had previously closed at $9.53.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings downgraded Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Wall Street Zen downgraded Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Maxim Group dropped their target price on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.00.

Santacruz Silver Mining Stock Down 3.8%

The stock has a 50-day moving average price of $8.32. The stock has a market cap of $852.30 million and a PE ratio of 28.63.

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 return on equity of 21.55% and a net margin of 9.97%.The firm had revenue of $113.46 million for the quarter, compared to analyst estimates of $135.00 million. As a group, analysts expect that Santacruz Silver Mining will post 1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Santacruz Silver Mining

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

About Santacruz Silver Mining

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the acquisition, exploration, development and operation of silver and polymetallic properties. The company produces silver along with lead, zinc and other associated metals from its mining operations and processing facilities.

Santacruz’s principal operating activities are located in Mexico, a country with a long-established mining industry. Its portfolio has included the Zimapan mining complex in Hidalgo, the Rosario mine in San Luis Potosí and the Veta Grande project in Zacatecas.