Want to see TSE:SCZ full AI Analyst Report?
Top Page
Santacruz Silver Mining
(TSX:SCZ)
Select Model
Select Model
Rating:62Neutral
Price Target:
C$10.00
▼(-24.59% Downside)
Action:Downgraded
Date:10/31/26
The score is driven primarily by improved financial performance (profitable TTM results and positive free cash flow), partially offset by weaker cash-flow momentum and higher leverage versus 2025. Technicals are a key drag, with price below major moving averages and bearish MACD, despite oversold signals. Valuation is reasonable on P/E, but the lack of a dividend yield limits support.
Positive Factors
Revenue Growth
Strong revenue growth indicates that Santacruz has expanded its operating scale and market activity. If sustained, the larger revenue base can improve fixed-cost absorption, support reinvestment in mining assets, and strengthen the company’s ability to build operating earnings over the next several quarters.
Negative Factors
Higher Leverage
The sharp increase in leverage adds financial risk even though current debt remains well covered by equity. Higher borrowing can reduce flexibility during weaker operating periods, increase financing obligations, and limit the capital available for mine development or other strategic priorities.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Strong revenue growth indicates that Santacruz has expanded its operating scale and market activity. If sustained, the larger revenue base can improve fixed-cost absorption, support reinvestment in mining assets, and strengthen the company’s ability to build operating earnings over the next several quarters.
Read all positive factors
Santacruz Silver Mining (SCZ) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$875.08M
Dividend YieldN/A
Average Volume (3M)189.32K
Price to Earnings (P/E)14.6
Beta (1Y)3.80
Revenue Growth38.31%
EPS Growth-37.20%
CountryCA
Employees455
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)N/A
Shares Outstanding92,994,580
10 Day Avg. Volume208,168
30 Day Avg. Volume189,321
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$23.98Price Target Upside80.86% 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. engages in the acquisition, exploration, and development of mineral properties. It operates through the following segments: Bolivar, Porco, Caballo Blanco Group, San Lucas Group, Zimapan, and Corporate and Other. The B...
Santacruz Silver Mining Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
73
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 420.83M | 326.38M | 282.99M | 251.26M | 278.59M | 53.33M |
| Gross Profit | 148.21M | 109.40M | 76.93M | 63.98M | 22.87M | 10.30M |
| EBITDA | 144.07M | 99.01M | 52.52M | 50.70M | 4.91M | -815.00K |
| Net Income | 42.22M | 42.22M | 164.48M | 16.15M | -18.51M | -11.56M |
Balance Sheet | ||||||
| Total Assets | 489.38M | 445.77M | 374.02M | 339.04M | 337.52M | 60.91M |
| Cash, Cash Equivalents and Short-Term Investments | 66.91M | 60.93M | 35.72M | 5.01M | 7.38M | 5.04M |
| Total Debt | 45.09M | 1.56M | 3.35M | 17.77M | 22.21M | 12.34M |
| Total Liabilities | 276.64M | 266.71M | 242.68M | 333.62M | 350.56M | 58.18M |
| Stockholders Equity | 212.74M | 179.06M | 131.35M | 5.42M | -13.04M | 2.74M |
Cash Flow | ||||||
| Free Cash Flow | 36.64M | 48.49M | 31.81M | 8.10M | 13.60M | -25.07M |
| Operating Cash Flow | 75.89M | 79.11M | 54.43M | 29.77M | 29.37M | -1.47M |
| Investing Cash Flow | -77.77M | -92.44M | -20.92M | -23.13M | -2.34M | -21.10M |
| Financing Cash Flow | 12.20M | 21.74M | -2.55M | -6.30M | -23.34M | 22.90M |
Santacruz Silver Mining Technical Analysis
Negative
13.26
Price Trends
12.39
Negative
11.15
Negative
12.20
Negative
Market Momentum
-0.70
Positive
32.68
Neutral
22.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SCZ, the sentiment is Negative. The current price of 13.26 is above the 20-day moving average (MA) of 11.36, above the 50-day MA of 12.39, and above the 200-day MA of 12.20, indicating a bearish trend. The MACD of -0.70 indicates Positive momentum. The RSI at 32.68 is Neutral, neither overbought nor oversold. The STOCH value of 22.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SCZ.
Santacruz Silver Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$685.44M | 4.12 | 43.72% | ― | 62.75% | 181.92% | |
62 Neutral | C$875.08M | 14.62 | 21.53% | ― | 38.31% | -37.20% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
45 Neutral | C$227.70M | -4.05 | -59.58% | ― | 59.54% | -45.48% | |
42 Neutral | C$109.94M | -6.04 | -32.34% | ― | ― | -77.79% | |
41 Neutral | C$304.62M | -10.94 | -42.64% | ― | ― | -42.53% |
* Basic Materials Sector Average
TSE:SCZ
Santacruz Silver Mining
9.41
2.01
27.16%
TSE:SVRS
Silver Storm Mining
0.35
0.10
40.00%
TSE:APGO
Apollo Gold
1.74
-2.28
-56.72%
TSE:GSVR
Guanajuato Silver Company
0.30
-0.04
-10.45%
TSE:APM
Andean Precious Metals
4.60
-1.85
-28.68%
Santacruz Silver Mining Corporate Events
Business Operations and StrategyFinancial Disclosures
Santacruz Silver Boosts Mine Output and Adds New Mill to Drive Q4 Growth
Positive
Oct 21, 2026
Santacruz Silver Mining reported third‑quarter 2026 production of 1.5 million ounces of silver, 22,080 tonnes of zinc, 3,316 tonnes of lead and 355 tonnes of copper from its Bolivian and Mexican operations. Silver output from its mining oper...
Business Operations and StrategyDelistings and Listing Changes
Santacruz Silver Wins Conditional TSX Approval in Bid to Elevate Market Profile
Positive
Sep 8, 2026
Santacruz Silver Mining Ltd., a Latin American-focused silver and base metals producer, operates a suite of underground mines and projects in Bolivia, including Bolivar, Porco, Caballo Blanco, Reserva and Soracaya, alongside the Zimapan mine in Me...
Business Operations and StrategyExecutive/Board Changes
Santacruz Silver Awards New Equity Incentives to Management and Staff
Positive
Aug 6, 2026
Santacruz Silver Mining has granted a total of 304,000 performance share units, 296,000 restricted share units and 60,000 deferred share units to directors, officers and employees under its Omnibus Equity Incentive Plan. The PSUs vest based on per...
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.