Santacruz Silver Mining (NASDAQ:SCZM) Stock Jumps 8% – What’s Next?

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price rose 8% on Friday. The company traded as high as $9.08 and last traded at $9.1550. Approximately 140,962 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 521,193 shares. The stock had previously closed at $8.48.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SCZM. Maxim Group reduced their target price 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. Weiss Ratings downgraded shares of Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Finally, Wall Street Zen lowered Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.00.

Santacruz Silver Mining Price Performance

The firm has a market capitalization of $852.76 million and a PE ratio of 28.65. The firm has a 50 day moving average price of $9.04.

Santacruz Silver Mining (NASDAQ:SCZM) last released 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 business had revenue of $113.46 million during the quarter, compared to analysts’ expectations of $135.00 million. Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%. On average, research analysts expect that Santacruz Silver Mining will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On Santacruz Silver Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP acquired a new stake in Santacruz Silver Mining during the second quarter worth $401,000. Squarepoint Ops LLC purchased a new position in Santacruz Silver Mining during the second quarter worth about $238,000. NewEdge Advisors LLC acquired a new stake in shares of Santacruz Silver Mining during the second quarter valued at about $212,000. Engineers Gate Manager LP purchased a new stake in shares of Santacruz Silver Mining in the 2nd quarter valued at approximately $148,000. Finally, Tidal Investments LLC purchased a new position in shares of Santacruz Silver Mining during the 2nd quarter worth approximately $122,000.

About Santacruz Silver Mining

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and production of silver and base metals. Its operations and projects are primarily located in Mexico, a country with a long history of silver mining. The company produces silver concentrates that may also contain lead, zinc and other associated metals.

Santacruz’s principal operating asset is the Zimapan Mining District in Hidalgo, Mexico, which includes underground mining and milling operations.