Santacruz Silver Mining (NASDAQ:SCZM) Raised to Buy at Wall Street Zen

Santacruz Silver Mining (NASDAQ:SCZM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

SCZM has been the subject of a number of other reports. Maxim Group decreased their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, July 17th. Weiss Ratings cut Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Finally, Zacks Research downgraded Santacruz Silver Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Santacruz Silver Mining has an average rating of “Hold” and a consensus price target of $10.00.

Santacruz Silver Mining Price Performance

Shares of SCZM stock opened at $7.52 on Friday. The company has a market capitalization of $699.32 million and a price-to-earnings ratio of 23.50. Santacruz Silver Mining has a 12-month low of $4.68 and a 12-month high of $17.65. The firm has a fifty day moving average of $8.60 and a 200-day moving average of $8.07.

Santacruz Silver Mining (NASDAQ:SCZM) last announced its earnings results on Friday, August 14th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.35). The company had revenue of $113.46 million during the quarter, compared to analyst estimates of $135.00 million. Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%. On average, equities analysts expect that Santacruz Silver Mining will post 0.96 EPS for the current year.

Institutional Investors Weigh In On Santacruz Silver Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCZM. U S Global Investors Inc. bought a new position in shares of Santacruz Silver Mining in the third quarter valued at $3,091,000. Susquehanna International Group LLP acquired a new position in Santacruz Silver Mining during the second quarter worth $401,000. Squarepoint Ops LLC acquired a new position in Santacruz Silver Mining during the second quarter worth $238,000. NewEdge Advisors LLC bought a new stake in Santacruz Silver Mining during the second quarter worth $212,000. Finally, Engineers Gate Manager LP bought a new stake in Santacruz Silver Mining during the second quarter worth $148,000.

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.