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

Santacruz Silver Mining (NASDAQ:SCZM) gapped down before the market opened 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.

Analysts Set New Price Targets

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

Santacruz Silver Mining Stock Down 3.7%

The company has a market cap of $591.50 million and a price-to-earnings ratio of 21.36. The firm’s fifty day simple moving average is $8.10.

Santacruz Silver Mining (NASDAQ:SCZM) last announced its quarterly earnings data 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 company had revenue of $127.53 million during 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.