Santacruz Silver Mining (NASDAQ:SCZM) Shares Down 7% – What’s Next?

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price was down 7% during mid-day trading on Friday . The company traded as low as $6.37 and last traded at $6.3060. 39,571 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 531,742 shares. The stock had previously closed at $6.78.

Analysts Set New Price Targets

Several research firms have commented 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, June 20th. Maxim Group decreased their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Weiss Ratings raised Santacruz Silver Mining from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Finally, Zacks Research upgraded Santacruz Silver Mining to a “hold” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

Santacruz Silver Mining Price Performance

The firm has a 50-day moving average of $6.86. The company has a market capitalization of $603.74 million and a price-to-earnings ratio of 21.67.

Santacruz Silver Mining (NASDAQ:SCZM) last released its earnings results on Friday, May 15th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.11). The company had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $124.00 million.

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.