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

Santacruz Silver Mining (NASDAQ:SCZM)’s share price gapped down prior to trading on Monday. The stock had previously closed at $9.48, but opened at $8.80. Santacruz Silver Mining shares last traded at $8.9890, with a volume of 198,572 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SCZM shares. Weiss Ratings lowered shares of Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Maxim Group dropped their price target on shares of 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, Wall Street Zen cut Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Santacruz Silver Mining Trading Down 5.4%

The company has a market capitalization of $833.75 million and a price-to-earnings ratio of 27.98. The stock’s 50 day moving average price is $8.61.

Santacruz Silver Mining (NASDAQ:SCZM) last posted its quarterly earnings data 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 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%. Equities research analysts predict that Santacruz Silver Mining will post 1.06 EPS for the current fiscal year.

Institutional Trading of Santacruz Silver Mining

A number of institutional investors and hedge funds have recently made changes to their positions in SCZM. Susquehanna International Group LLP bought a new position in Santacruz Silver Mining in the second quarter valued at approximately $401,000. Tidal Investments LLC acquired a new position in Santacruz Silver Mining during the second quarter valued at approximately $122,000. Engineers Gate Manager LP bought a new stake in Santacruz Silver Mining during the second quarter worth $148,000. NewEdge Advisors LLC bought a new stake in Santacruz Silver Mining during the second quarter worth $212,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Santacruz Silver Mining in the 2nd quarter valued at $238,000.

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.