Santacruz Silver Mining (NASDAQ:SCZM) Trading 5.1% Higher – Still a Buy?

Shares of Santacruz Silver Mining (NASDAQ:SCZM) rose 5.1% during mid-day trading on Wednesday . The company traded as high as $10.49 and last traded at $10.4740. Approximately 273,986 shares changed hands during trading, a decline of 48% from the average session volume of 530,804 shares. The stock had previously closed at $9.97.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SCZM. Wall Street Zen downgraded shares of Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Maxim Group decreased their target price on shares of Santacruz Silver Mining from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Finally, Weiss Ratings downgraded shares of Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.00.

Santacruz Silver Mining Price Performance

The stock has a market capitalization of $898.65 million and a PE ratio of 30.28. The company’s 50 day moving average price is $8.02.

Santacruz Silver Mining (NASDAQ:SCZM) last released its quarterly earnings data on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.35). The firm had revenue of $113.46 million during the quarter, compared to analyst estimates of $135.00 million. Santacruz Silver Mining had a net margin of 9.97% and a return on equity of 21.55%. As a group, equities analysts expect that Santacruz Silver Mining will post 1.06 earnings per share for the current year.

Hedge Funds Weigh In On Santacruz Silver Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCZM. TD Waterhouse Canada Inc. acquired a new position in shares of Santacruz Silver Mining during the second quarter worth $51,000. Tidal Investments LLC acquired a new stake in Santacruz Silver Mining in the second quarter valued at $122,000. Engineers Gate Manager LP acquired a new stake in Santacruz Silver Mining in the second quarter valued at $148,000. NewEdge Advisors LLC bought a new position in Santacruz Silver Mining during the 2nd quarter worth $212,000. Finally, Squarepoint Ops LLC bought a new position in Santacruz Silver Mining during the 2nd quarter worth $238,000.

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.