Santacruz Silver Mining (NASDAQ:SCZM) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Santacruz Silver Mining (NASDAQ:SCZM) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on SCZM. Maxim Group dropped their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Santacruz Silver Mining in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Santacruz Silver Mining Stock Performance

SCZM opened at $9.36 on Friday. Santacruz Silver Mining has a twelve month low of $4.68 and a twelve month high of $17.65. The business’s fifty day moving average price is $7.47. The firm has a market capitalization of $868.05 million and a PE ratio of 29.25.

Santacruz Silver Mining (NASDAQ:SCZM) last released 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). The firm had revenue of $113.46 million during 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, equities research analysts anticipate that Santacruz Silver Mining will post 1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Santacruz Silver Mining

A hedge fund recently bought a new position in Santacruz Silver Mining stock. TD Waterhouse Canada Inc. bought a new position in Santacruz Silver Mining (NASDAQ:SCZM) during the second quarter, according to its most recent filing with the SEC. The firm bought 7,800 shares of the company’s stock, valued at approximately $51,000.

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.