Santacruz Silver Mining (NASDAQ:SCZM) Shares Up 5.1% – Should You Buy?

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price shot up 5.1% during trading on Wednesday . The stock traded as high as $10.49 and last traded at $10.4740. 273,986 shares changed hands during trading, a decline of 48% from the average session volume of 530,804 shares. The stock had previously closed at $9.97.

Analyst Ratings Changes

A number of research analysts recently commented on SCZM shares. Weiss Ratings downgraded Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Wall Street Zen cut shares of Santacruz Silver Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Maxim Group cut their price objective on shares of 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. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Santacruz Silver Mining presently has an average rating of “Hold” and a consensus price target of $10.00.

Santacruz Silver Mining Stock Performance

The stock’s 50-day moving average price is $7.89. The company has a market cap of $953.38 million and a PE ratio of 32.20.

Santacruz Silver Mining (NASDAQ:SCZM) last released its quarterly earnings results on Friday, August 14th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.35). The company had revenue of $113.46 million for the quarter, compared to the consensus estimate of $135.00 million. Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%. On average, sell-side analysts predict that Santacruz Silver Mining will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Santacruz Silver Mining

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new position in Santacruz Silver Mining during the 2nd quarter valued at $401,000. Squarepoint Ops LLC bought a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth $238,000. NewEdge Advisors LLC bought a new stake in shares of Santacruz Silver Mining in the 2nd quarter worth $212,000. Engineers Gate Manager LP acquired a new stake in shares of Santacruz Silver Mining in the second quarter valued at $148,000. Finally, Tidal Investments LLC acquired a new stake in shares of Santacruz Silver Mining in the second quarter valued at $122,000.

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.