Santacruz Silver Mining (NASDAQ:SCZM) Shares Gap Down – Time to Sell?

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $6.62, but opened at $6.27. Santacruz Silver Mining shares last traded at $6.4260, with a volume of 115,032 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Maxim Group began coverage on shares of Santacruz Silver Mining in a research report on Wednesday, April 8th. They set a “buy” rating and a $12.00 price objective on the stock. 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. Zacks Research upgraded shares of Santacruz Silver Mining to a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen raised shares of Santacruz Silver Mining from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Santacruz Silver Mining Stock Performance

The company has a market capitalization of $591.50 million and a PE ratio of 21.36. The business has a 50-day moving average of $8.10.

Santacruz Silver Mining (NASDAQ:SCZM) last released its quarterly earnings results on Friday, May 15th. The company reported $0.30 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 the consensus estimate 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.