Santacruz Silver Mining (NASDAQ:SCZM) Trading Down 4.2% – Time to Sell?

Shares of Santacruz Silver Mining (NASDAQ:SCZM) dropped 4.2% on Monday . The stock traded as low as $9.12 and last traded at $9.1250. Approximately 68,685 shares changed hands during trading, a decline of 87% from the average session volume of 529,777 shares. The stock had previously closed at $9.53.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Maxim Group lowered their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Finally, Weiss Ratings lowered Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Santacruz Silver Mining presently has an average rating of “Hold” and an average price target of $10.00.

Santacruz Silver Mining Stock Up 5.8%

The firm has a 50-day moving average price of $8.43. The company has a market capitalization of $888.15 million and a PE ratio of 29.84.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SCZM. Susquehanna International Group LLP bought a new stake in shares of Santacruz Silver Mining during the second quarter valued at approximately $401,000. Squarepoint Ops LLC bought a new position in Santacruz Silver Mining in the second quarter worth $238,000. NewEdge Advisors LLC bought a new position in Santacruz Silver Mining in the second quarter worth $212,000. Engineers Gate Manager LP purchased a new position in Santacruz Silver Mining during the second quarter valued at $148,000. Finally, Tidal Investments LLC purchased a new position in Santacruz Silver Mining during the second quarter valued at $122,000.

Santacruz Silver Mining Company Profile

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the acquisition, exploration, development and operation of silver and polymetallic properties. The company produces silver along with lead, zinc and other associated metals from its mining operations and processing facilities.

Santacruz’s principal operating activities are located in Mexico, a country with a long-established mining industry. Its portfolio has included the Zimapan mining complex in Hidalgo, the Rosario mine in San Luis Potosí and the Veta Grande project in Zacatecas.