Santacruz Silver Mining (NASDAQ:SCZM) Stock Price Up 13.5% – Time to Buy?

Santacruz Silver Mining (NASDAQ:SCZM)’s stock price shot up 13.5% during trading on Wednesday. The company traded as high as $7.69 and last traded at $7.6870. Approximately 305,233 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 510,080 shares. The stock had previously closed at $6.77.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Santacruz Silver Mining from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, October 26th. Maxim Group lowered 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. Zacks Research lowered shares of Santacruz Silver Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Wall Street Zen cut shares of Santacruz Silver Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. 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 Stock Performance

The stock’s fifty day simple moving average is $8.74 and its two-hundred day simple moving average is $8.08. The company has a market cap of $715.17 million and a price-to-earnings ratio of 24.03.

Santacruz Silver Mining (NASDAQ:SCZM) last released its quarterly earnings data on Friday, August 14th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.35). The firm had revenue of $113.46 million for the quarter, compared to analyst estimates of $135.00 million. Santacruz Silver Mining had a return on equity of 21.55% and a net margin of 9.97%. Analysts predict that Santacruz Silver Mining will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Santacruz Silver Mining

Institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new position in shares of Santacruz Silver Mining in the 2nd quarter worth about $51,000. Compass Ion Advisors LLC acquired a new position in shares of Santacruz Silver Mining in the 3rd quarter valued at about $95,000. Commonwealth Equity Services LLC purchased a new stake in shares of Santacruz Silver Mining during the 3rd quarter worth about $102,000. Tidal Investments LLC purchased a new stake in shares of Santacruz Silver Mining during the 2nd quarter worth about $122,000. Finally, Verus Capital Partners LLC grew its holdings in shares of Santacruz Silver Mining by 12.0% during the 3rd quarter. Verus Capital Partners LLC now owns 14,000 shares of the company’s stock worth $124,000 after purchasing an additional 1,500 shares during the period.

About Santacruz Silver Mining

Santacruz Silver Mining Ltd. is a Canadian mining company focused on the exploration, development and operation of silver, lead and zinc properties in Mexico. The company produces mineral concentrates containing silver and base metals, which are sold to smelters and other processing customers.

Santacruz’s Mexican operating portfolio has included the Zimapan mine complex in Hidalgo, the La Encantada mine in Coahuila and the Rosario mine in San Luis Potosi, along with the Veta Grande property in Zacatecas.