Santacruz Silver Mining (NASDAQ:SCZM) Trading Up 8.2% – Here’s Why

Shares of Santacruz Silver Mining (NASDAQ:SCZM) were up 8.2% on Monday . The stock traded as high as $7.86 and last traded at $7.55. Approximately 576,363 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 557,146 shares. The stock had previously closed at $6.98.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SCZM shares. Wall Street Zen cut Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings raised Santacruz Silver Mining from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Maxim Group started coverage on Santacruz Silver Mining in a research note on Wednesday, April 8th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Zacks Research raised Santacruz Silver Mining to a “hold” rating in a research note on Tuesday, April 28th. One investment 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 presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Santacruz Silver Mining Price Performance

The business has a fifty day simple moving average of $8.19.

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