Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Up – Here’s What Happened

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $6.44, but opened at $6.65. Santacruz Silver Mining shares last traded at $6.6840, with a volume of 16,805 shares.

Wall Street Analysts Forecast Growth

SCZM has been the topic of a number of recent analyst reports. Maxim Group began coverage on Santacruz Silver Mining in a report on Wednesday, April 8th. They set a “buy” rating and a $12.00 target price on the stock. Wall Street Zen upgraded shares of Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Zacks Research raised shares of Santacruz Silver Mining to a “hold” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Santacruz Silver Mining from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Santacruz Silver Mining Stock Up 3.6%

The firm has a market cap of $618.77 million and a P/E ratio of 22.22. The firm has a fifty day moving average price of $8.01.

Santacruz Silver Mining (NASDAQ:SCZM) last released its quarterly earnings data on Friday, May 15th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.11). The firm had revenue of $127.53 million during the quarter, compared to analyst estimates of $124.00 million.

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.