Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Up – Here’s Why

Shares of Santacruz Silver Mining (NASDAQ:SCZM) gapped up before the market opened on Friday . The stock had previously closed at $9.76, but opened at $10.26. Santacruz Silver Mining shares last traded at $9.76, with a volume of 172,494 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research upgraded Santacruz Silver Mining to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Santacruz Silver Mining in a research report on Wednesday. Maxim Group reduced their price objective on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. 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, Santacruz Silver Mining presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Santacruz Silver Mining Stock Up 2.2%

The stock’s 50 day moving average price is $7.15. The stock has a market capitalization of $924.63 million and a P/E ratio of 33.23.

Santacruz Silver Mining (NASDAQ:SCZM) last released 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). 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%. On average, research analysts expect that Santacruz Silver Mining will post 1.06 EPS for the current year.

Institutional Trading of Santacruz Silver Mining

An institutional investor recently bought a new stake in Santacruz Silver Mining stock. Susquehanna International Group LLP bought a new stake in Santacruz Silver Mining (NASDAQ:SCZM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,756 shares of the company’s stock, valued at approximately $401,000. Susquehanna International Group LLP owned approximately 0.07% of Santacruz Silver Mining at the end of the most recent reporting period.

Santacruz Silver Mining Company Profile

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.