Santacruz Silver Mining (NASDAQ:SCZM) Shares Down 9.7% – Here’s Why

Santacruz Silver Mining (NASDAQ:SCZM)’s share price fell 9.7% during mid-day trading on Thursday. The company traded as low as $7.36 and last traded at $7.3780. Approximately 95,137 shares changed hands during trading, a decline of 81% from the average session volume of 512,811 shares. The stock had previously closed at $8.17.

Analyst Upgrades and Downgrades

SCZM has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings raised Santacruz Silver Mining from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Maxim Group decreased their price target on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Finally, Zacks Research upgraded Santacruz Silver Mining from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.00.

Santacruz Silver Mining Stock Down 12.7%

The company’s 50 day simple moving average is $9.13. The stock has a market capitalization of $663.09 million and a P/E ratio of 22.28.

Santacruz Silver Mining (NASDAQ:SCZM) last issued 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). The firm had revenue of $113.46 million for the quarter, compared to analyst estimates of $135.00 million. Santacruz Silver Mining had a net margin of 9.97% and a return on equity of 21.55%. Analysts forecast that Santacruz Silver Mining will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

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

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and operation of silver, lead and zinc properties in Mexico. The company produces mineral concentrates containing silver and base metals, which are sold to smelters and other processing customers.

Santacruz’s Mexican operating portfolio has included the Zimapan mine complex in Hidalgo, the La Encantada mine in Coahuila and the Rosario mine in San Luis Potosi, along with the Veta Grande property in Zacatecas.