Santacruz Silver Mining (NASDAQ:SCZM) Trading 8.3% Higher – Here’s Why

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price rose 8.3% on Wednesday . The stock traded as high as $9.95 and last traded at $9.9680. 91,534 shares were traded during trading, a decline of 83% from the average session volume of 531,255 shares. The stock had previously closed at $9.20.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Santacruz Silver Mining in a report on Wednesday, August 19th. Maxim Group reduced their price objective on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, July 17th. 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 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, the stock presently has an average rating of “Hold” and an average target price of $10.00.

Santacruz Silver Mining Stock Performance

The stock has a market capitalization of $966.35 million and a PE ratio of 32.56. The stock’s 50-day simple moving average is $7.68.

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

Institutional Investors Weigh In On Santacruz Silver Mining

An institutional investor recently bought a new position in Santacruz Silver Mining stock. Susquehanna International Group LLP acquired a new position in Santacruz Silver Mining (NASDAQ:SCZM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,756 shares of the company’s stock, valued at approximately $401,000. Susquehanna International Group LLP owned approximately 0.07% of Santacruz Silver Mining at the end of the most recent quarter.

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.