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Santacruz Silver Mining (TSE:SCZ)
:SCZ
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Santacruz Silver Mining (SCZ) AI Stock Analysis

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TSE:SCZ

Santacruz Silver Mining

(SCZ)

Rating:69Neutral
Price Target:
C$1.50
▲(14.50%Upside)
Santacruz Silver Mining's strong financial performance and attractive valuation underpin its overall score. However, technical analysis signals caution due to overbought conditions. Corporate events indicate strategic progress, but regulatory issues due to filing delays present risks. Overall, the company is positioned well financially but needs to address operational challenges.
Positive Factors
Debt Reduction
Santacruz announced that it plans to accelerate its debt payments to Glencore, saving $40M and cleaning up the balance sheet.
Production Performance
The Zimápan Mine beat estimates of silver equivalent produced by approximately 10% and continues its stellar track record of consistent production.
Valuation
SCZ is trading at just 2.0x 2025E CF compared to small/mid-cap silver producers.
Negative Factors
Financial Reporting
SCZ is also late on its Q1 financial results which will be reported later this week.
Production Results
Santacruz reported its Q1/25 production results, missing expectations due to pronounced seasonality and various operational challenges.

Santacruz Silver Mining (SCZ) vs. iShares MSCI Canada ETF (EWC)

Santacruz Silver Mining Business Overview & Revenue Model

Company DescriptionSantacruz Silver Mining Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral properties in Mexico. The company primarily explores for silver and zinc, as well as lead and copper deposits. It holds interests in the Zimapan Mine that consists of 34 mining concessions covering an area of 5,139 hectares located in Hidalgo, Mexico; and two exploration properties, which include the La Pechuga Property and the Santa Gorgonia Prospect. The company was formerly known as Forte Resources Inc. and changed its name to Santacruz Silver Mining Ltd. in April 2012. Santacruz Silver Mining Ltd. was incorporated in 2011 and is based in Vancouver, Canada.
How the Company Makes MoneySantacruz Silver Mining Ltd. generates revenue primarily through the extraction and sale of silver and other by-product metals like gold, lead, and zinc from its mines in Mexico. The company operates multiple mining projects, each contributing to its overall production output. Revenue is driven by the market prices of these metals, production volumes, and the efficiency of mining operations. Additionally, Santacruz may enter into various partnerships or joint ventures to optimize production capabilities and explore new opportunities, although specific partnerships or agreements are not detailed here. The company's earnings are influenced by factors such as commodity price fluctuations, operational costs, and the successful management of its mining projects.

Santacruz Silver Mining Financial Statement Overview

Summary
Santacruz Silver Mining exhibits strong financial health with notable improvements in profitability and revenue growth. The income statement reflects robust margins and upward revenue trends, while the balance sheet is stable with manageable debt levels. Cash flows are positive and indicate efficient operations. However, historical fluctuations in equity and liabilities warrant cautious optimism.
Income Statement
75
Positive
Santacruz Silver Mining has shown significant improvement in its income statement. The TTM (Trailing-Twelve-Months) Gross Profit Margin stands at approximately 28.1%, which is a positive indicator of cost management. The Net Profit Margin for the TTM is about 14.9%, showcasing profitability, though it is bolstered by a strong performance in 2024. Revenue growth is impressive, with a 6.3% increase from 2024 to 2025. EBIT and EBITDA margins also reflect solid operational performance, at 19.8% and 37.5% respectively. Overall, the income statement demonstrates strong revenue growth and profitability, despite a challenging past.
Balance Sheet
60
Neutral
The balance sheet reveals a mixed picture. The Debt-to-Equity Ratio is low, indicating conservative leverage with room to grow. Return on Equity (ROE) is strong at 31.8% for the TTM, reflecting efficient use of equity. However, the Equity Ratio is 42.6%, which shows the company is relatively reliant on liabilities. The improvement in stockholders’ equity over time is a strength, but the historical volatility in equity poses a potential risk.
Cash Flow
70
Positive
Cash flow analysis shows robust operational cash flows, with the TTM Operating Cash Flow to Net Income Ratio at 1.29, indicating good cash conversion. The Free Cash Flow Growth Rate is modest, demonstrating stable but not aggressive growth. The Free Cash Flow to Net Income Ratio is 0.67, suggesting reasonable cash profitability. Overall, the cash flow is solid with a consistent positive trend, but further growth in free cash flow would enhance financial flexibility.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue282.99M251.26M278.59M53.33M33.10M
Gross Profit76.93M63.98M22.87M10.30M988.00K
EBITDA52.52M50.70M4.91M-815.00K111.00K
Net Income164.48M16.15M-18.51M-11.56M-1.49M
Balance Sheet
Total Assets374.02M339.04M337.52M60.91M32.83M
Cash, Cash Equivalents and Short-Term Investments35.72M5.01M7.38M5.04M430.00K
Total Debt3.35M17.77M22.21M12.34M6.76M
Total Liabilities242.68M333.62M350.56M58.18M42.25M
Stockholders Equity131.35M5.42M-13.04M2.74M-9.42M
Cash Flow
Free Cash Flow31.81M8.10M13.60M-25.07M-6.45M
Operating Cash Flow54.43M29.77M29.37M-1.47M-4.81M
Investing Cash Flow-20.92M-23.13M-2.34M-21.10M-2.63M
Financing Cash Flow-2.55M-6.30M-23.34M22.90M7.76M

Santacruz Silver Mining Technical Analysis

Technical Analysis Sentiment
Positive
Last Price1.31
Price Trends
50DMA
1.01
Positive
100DMA
0.76
Positive
200DMA
0.55
Positive
Market Momentum
MACD
0.12
Positive
RSI
59.00
Neutral
STOCH
42.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SCZ, the sentiment is Positive. The current price of 1.31 is above the 20-day moving average (MA) of 1.24, above the 50-day MA of 1.01, and above the 200-day MA of 0.55, indicating a bullish trend. The MACD of 0.12 indicates Positive momentum. The RSI at 59.00 is Neutral, neither overbought nor oversold. The STOCH value of 42.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SCZ.

Santacruz Silver Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
69
Neutral
C$459.05M7.2932.65%30.08%-67.68%
63
Neutral
$10.53B10.831.51%2.68%2.24%-33.79%
42
Neutral
C$452.25M-21.78%31.39%
34
Underperform
C$93.40M-84.35%-2.14%
34
Underperform
C$138.97M-73.72%78.62%
$70.66M-7.27%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:SCZ
Santacruz Silver Mining
1.31
0.97
285.29%
TSE:DV
Dolly Varden Silver
5.08
0.84
19.81%
TSE:SVRS
Golden Tag Resources
0.20
0.06
42.86%
TSE:APGO
Apollo Gold
0.38
0.21
123.53%
SLVRF
Silver One Resources
0.27
0.11
68.75%

Santacruz Silver Mining Corporate Events

M&A TransactionsBusiness Operations and Strategy
Santacruz Silver Completes Third Payment to Glencore in Bolivian Assets Acquisition
Positive
Jul 7, 2025

Santacruz Silver Mining Ltd. has announced the completion of its third payment of $7.5 million to Glencore as part of a structured payment plan totaling $40 million for the acquisition of Bolivian assets. This payment highlights Santacruz’s commitment to financial discipline and long-term value creation, with $15 million remaining to be paid by October 31, 2025. The company emphasizes its strong relationship with Glencore as a key asset in advancing its strategic priorities.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Business Operations and Strategy
Santacruz Silver Mining Announces Equity Incentive Awards
Positive
Jun 27, 2025

Santacruz Silver Mining Ltd. has announced the granting of stock options, deferred share units, restricted share units, and performance share units to directors, officers, employees, and consultants as part of its Omnibus Equity Incentive Plan. This move aims to align the incentive compensation program with the company’s long-term objectives, potentially enhancing stakeholder value and reinforcing the company’s commitment to its strategic goals.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Delistings and Listing ChangesBusiness Operations and Strategy
Santacruz Silver Mining Upgrades to OTCQX Best Market
Positive
Jun 26, 2025

Santacruz Silver Mining Ltd. has announced its upgrade to the OTCQX Best Market, allowing its shares to trade under the symbol ‘SCZMF’. This move is expected to enhance the company’s access to U.S. investors, increase liquidity, and support its strategy of becoming a leading silver and base metals producer in Latin America.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Santacruz Silver Appoints Andrés Bedregal as CFO to Drive Financial Growth
Positive
Jun 16, 2025

Santacruz Silver Mining Ltd. has appointed Andrés Bedregal as its Chief Financial Officer, effective immediately. Bedregal, who has been serving as interim CFO since October 2024, has played a crucial role in improving the company’s financial health and securing better terms for a Bolivian asset acquisition. His extensive expertise in financial planning and strategic decision-making is expected to further strengthen Santacruz’s financial discipline and support its growth initiatives.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Santacruz Silver Mining Reports Strong Q1 2025 Financial Results
Positive
Jun 12, 2025

Santacruz Silver Mining Ltd. reported a strong start to 2025 with significant improvements in financial metrics, including a 34% increase in revenues and substantial growth in gross profit and adjusted EBITDA. Despite a decrease in net income due to extraordinary gains in the previous year, the company maintained a robust liquidity position and demonstrated operational efficiency. The company’s strategic focus on maximizing margins and leveraging favorable metal prices positions it well for sustainable growth and value creation for shareholders.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Santacruz Silver Reports Q1 2025 Production Results with Strategic Silver Focus
Neutral
Jun 9, 2025

Santacruz Silver Mining Ltd. reported its Q1 2025 production results, highlighting a total production of 3,688,129 silver equivalent ounces, including 1,590,063 ounces of silver and 20,719 tonnes of zinc. The company experienced a decrease in production compared to the previous quarter, attributed to typical seasonal slowdowns and temporary operational constraints. Despite these challenges, Santacruz emphasized its strategic focus on silver production, benefiting from the favorable silver price environment, and reaffirmed its commitment to prioritizing silver production across its assets.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Financial DisclosuresRegulatory Filings and Compliance
Santacruz Silver Faces Temporary Cease Trade Order Due to Filing Delays
Negative
Jun 3, 2025

Santacruz Silver Mining Ltd. has received a temporary management cease trade order from the British Columbia Securities Commission due to its inability to file interim financial statements for the period ending March 31, 2025, by the deadline. This order restricts trading by the company’s CEO and CFO until the required filings are completed, although public trading remains unaffected. The delay was attributed to the company’s focus on completing previous annual filings, and it expects to resolve the issue by June 12, 2025.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Santacruz Silver Mining Achieves Robust Financial Growth in 2024
Positive
May 29, 2025

Santacruz Silver Mining Ltd. reported significant financial growth for the year ending December 31, 2024, with a 13% increase in revenue and a remarkable 1594% rise in net income. The company attributes its success to operational improvements and a favorable silver price environment, which have strengthened its balance sheet and positioned it for sustainable growth. Despite a slight decrease in silver equivalent ounces produced, Santacruz ended the year with a substantial increase in cash reserves, enhancing shareholder value and preparing for long-term growth.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

Financial DisclosuresRegulatory Filings and Compliance
Santacruz Silver Updates on Management Cease Trade Order Status
Neutral
May 14, 2025

Santacruz Silver Mining Ltd. has provided an update on the temporary management cease trade order (MCTO) issued due to a delay in filing its annual financial statements for 2024. The company is working with its auditor to complete the audit procedures and continues to comply with alternative information guidelines, issuing bi-weekly status reports. There are no other material changes or defaults anticipated, and the MCTO will remain in effect until the required filings are completed.

The most recent analyst rating on (TSE:SCZ) stock is a Buy with a C$0.90 price target. To see the full list of analyst forecasts on Santacruz Silver Mining stock, see the TSE:SCZ Stock Forecast page.

M&A TransactionsBusiness Operations and Strategy
Santacruz Silver Advances Bolivian Asset Acquisition with Second Payment to Glencore
Positive
May 6, 2025

Santacruz Silver Mining Ltd. has announced the completion of its second payment of US$7.5 million to Glencore as part of its Acceleration Plan for the acquisition of Bolivian assets. This payment is part of a structured plan to deliver total payments of US$40 million by October 2025, aiming to generate significant savings and reinforce the company’s financial discipline. The company’s strategic plan underscores its commitment to maintaining a strong balance sheet and enhancing shareholder value, with continued support from Glencore being a key asset in achieving its strategic goals.

Financial DisclosuresRegulatory Filings and Compliance
Santacruz Silver Receives Temporary Cease Trade Order
Negative
May 1, 2025

Santacruz Silver Mining Ltd. has received a temporary management cease trade order from the British Columbia Securities Commission due to its inability to file annual financial statements by the April 30, 2025 deadline. The delay is attributed to the company’s auditor being unable to complete audit procedures on time. The order restricts trading by the company’s CEO and CFO until the filings are completed, although the general public can still trade the company’s securities. Santacruz aims to resolve the issue by May 16, 2025, and will adhere to alternative information guidelines in the meantime.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 22, 2025