Santacruz Silver Mining Ltd (TSE:SCZ)
:SCZ
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Santacruz Silver Mining
(SCZ)
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Rating:65Neutral
Price Target:
C$13.50
▲(6.97% Upside)
Action:DowngradedDate:04/06/26
The score is driven primarily by improved financial performance (stronger profitability, rising operating cash flow, and very low debt), tempered by historical and recent volatility in earnings/cash flow quality. Technical indicators are the main drag due to bearish trend signals, while valuation is moderately supportive with a P/E near 11.
Positive Factors
Stronger balance sheet
Santacruz materially reduced leverage and rebuilt equity by 2025, lowering solvency risk and expanding financial flexibility. A stronger capital structure supports sustaining capex, mine investments and working-capital needs over commodity cycles, reducing refinancing pressure.
Negative Factors
Historical cashflow volatility
The company’s cash generation has been uneven historically, with years of negative OCF and FCF that signal execution and mine-cycle risk. This legacy volatility suggests cash metrics could deteriorate again under lower metal prices or operational setbacks, stressing liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger balance sheet
Santacruz materially reduced leverage and rebuilt equity by 2025, lowering solvency risk and expanding financial flexibility. A stronger capital structure supports sustaining capex, mine investments and working-capital needs over commodity cycles, reducing refinancing pressure.
Read all positive factors
Santacruz Silver Mining (SCZ) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.06B
Dividend YieldN/A
Average Volume (3M)1.74M
Price to Earnings (P/E)20.5
Beta (1Y)3.79
Revenue Growth17.40%
EPS Growth-74.00%
CountryCA
Employees455
SectorGeneral
Sector StrengthN/A
IndustrySilver
Share Statistics
EPS (TTM)N/A
Shares Outstanding92,024,630
10 Day Avg. Volume1,827,079
30 Day Avg. Volume1,735,448
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)4.83
Price to Sales (P/S)2.65
P/FCF Ratio17.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$25.28Price Target Upside100.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Santacruz Silver Mining Business Overview & Revenue Model
Company Description
Santacruz 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 depos...
How the Company Makes Money
Santacruz Silver Mining makes money primarily by producing and selling metal from its mining operations. Revenue is generated when ore is extracted from underground mines, processed into saleable products (typically concentrates and/or doré, depen...
Santacruz Silver Mining Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
81
Very Positive
Cash Flow
67
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 326.38M | 282.99M | 251.26M | 278.59M | 53.33M |
| Gross Profit | 109.40M | 76.93M | 63.98M | 22.87M | 10.30M |
| EBITDA | 99.01M | 52.52M | 50.70M | 4.91M | -815.00K |
| Net Income | 42.22M | 164.48M | 16.15M | -18.51M | -11.56M |
Balance Sheet | |||||
| Total Assets | 445.77M | 374.02M | 339.04M | 337.52M | 60.91M |
| Cash, Cash Equivalents and Short-Term Investments | 60.93M | 35.72M | 5.01M | 7.38M | 5.04M |
| Total Debt | 1.56M | 3.35M | 17.77M | 22.21M | 12.34M |
| Total Liabilities | 266.71M | 242.68M | 333.62M | 350.56M | 58.18M |
| Stockholders Equity | 179.06M | 131.35M | 5.42M | -13.04M | 2.74M |
Cash Flow | |||||
| Free Cash Flow | 48.49M | 31.81M | 8.10M | 13.60M | -25.07M |
| Operating Cash Flow | 79.11M | 54.43M | 29.77M | 29.37M | -1.47M |
| Investing Cash Flow | -92.44M | -20.92M | -23.13M | -2.34M | -21.10M |
| Financing Cash Flow | 21.74M | -2.55M | -6.30M | -23.34M | 22.90M |
Santacruz Silver Mining Technical Analysis
Positive
12.62
Price Trends
13.03
Negative
13.65
Negative
10.51
Positive
Market Momentum
-0.18
Negative
54.55
Neutral
75.86
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 12.62 is above the 20-day moving average (MA) of 11.21, below the 50-day MA of 13.03, and above the 200-day MA of 10.51, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 54.55 is Neutral, neither overbought nor oversold. The STOCH value of 75.86 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$1.01B | 5.08 | 20.32% | ― | 44.00% | 526.81% | |
65 Neutral | C$1.06B | 20.50 | 25.34% | ― | 17.40% | -74.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | C$488.87M | -8.58 | -108.87% | ― | 5.60% | 50.96% | |
44 Neutral | C$193.97M | -9.59 | -57.01% | ― | ― | -199.69% | |
42 Neutral | C$371.17M | -43.68 | -41.51% | ― | ― | -322.58% |
* General Sector Average
TSE:SCZ
Santacruz Silver Mining
10.72
8.64
415.38%
TSE:SVRS
Silver Storm Mining
0.45
0.33
260.00%
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2.88
1.20
71.94%
TSE:GSVR
Guanajuato Silver Company
0.62
0.45
275.76%
TSE:APM
Andean Precious Metals
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212.56%
Santacruz Silver Mining Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Santacruz Silver’s San Lucas Unit Fully Places Oversubscribed Bs 70M Note Issue in Bolivia
Positive
Apr 9, 2026
Santacruz Silver’s Bolivian subsidiary Empresa Minera San Lucas S.A. has completed a Bs 70 million unsecured promissory note issuance in the Bolivian capital markets, the third offering under its Bs 140 million program. The notes, which carr...
Business Operations and StrategyFinancial Disclosures
Santacruz Silver Doubles Profitability Metrics in 2025 Despite Lower Output and One-Off 2024 Gain
Positive
Apr 1, 2026
Santacruz Silver Mining reported 2025 revenue of $326.4 million, up 15% year over year, with gross profit nearly doubling and adjusted EBITDA almost doubling as well, driven by higher silver-equivalent prices and operational efficiencies that wide...
Business Operations and Strategy
Santacruz Silver Grants Stock Options to Adelaide Capital to Bolster Market Outreach
Positive
Feb 27, 2026
Santacruz Silver Mining has granted 45,000 stock options to Adelaide Capital, an investor relations and capital markets advisory firm, as part of a broader agreement to enhance its presence in the capital markets. The options, issued under the com...
Business Operations and StrategyFinancial Disclosures
Santacruz Silver Tops 2026 TSX Venture 50 After Breakout Year
Positive
Feb 18, 2026
Santacruz Silver Mining has been named the top-ranked company on the 2026 TSX Venture 50 list, reflecting a 1,103% increase in its share price and a 1,137% rise in market capitalization during 2025. The recognition highlights the company’s s...
Business Operations and StrategyFinancial Disclosures
Santacruz Silver Lifts Q4 Output as Bolívar Mine Recovery Gains Traction
Positive
Jan 26, 2026
Santacruz Silver reported fourth-quarter 2025 production of 3,739,019 silver-equivalent ounces, including 1,343,607 ounces of silver, 23,846 tonnes of zinc, 3,000 tonnes of lead and 287 tonnes of copper, representing a 9% quarter-on-quarter increa...
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.