Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Down 7.7% – Time to Sell?

Santacruz Silver Mining (NASDAQ:SCZM) shares fell 7.7% during trading on Thursday . The company traded as low as $6.23 and last traded at $6.24. Approximately 173,930 shares changed hands during trading, a decline of 68% from the average session volume of 537,784 shares. The stock had previously closed at $6.76.

Analysts Set New Price Targets

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

Santacruz Silver Mining Price Performance

The business has a fifty day simple moving average of $7.01. The stock has a market capitalization of $583.34 million and a PE ratio of 20.97.

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 the consensus estimate of $0.41 by ($0.11). The company had revenue of $127.53 million for the quarter, compared to the consensus estimate 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.