Santacruz Silver Mining (NASDAQ:SCZM) Trading Down 7.7% – What’s Next?

Santacruz Silver Mining (NASDAQ:SCZM)’s share price was down 7.7% during mid-day trading on Thursday . The stock traded as low as $6.23 and last traded at $6.24. 173,930 shares were traded during trading, a decline of 68% from the average session volume of 537,784 shares. The stock had previously closed at $6.76.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SCZM shares. Weiss Ratings raised shares of Santacruz Silver Mining from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Maxim Group reduced their price target on Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, July 17th. Wall Street Zen upgraded Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded Santacruz Silver Mining to a “hold” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Santacruz Silver Mining Stock Down 6.2%

The business has a fifty day simple moving average of $7.13. The company has a market capitalization of $588.26 million and a P/E ratio of 21.15.

Santacruz Silver Mining (NASDAQ:SCZM) last issued its earnings results on Friday, May 15th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.11). The firm had revenue of $127.53 million for 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.