My fourth-largest holding, Santacruz Silver Mining ($SCZ (-3,44 %) ), is reporting strong production figures for Q3!
Silver production from its own mines rose by 30% year-over-year to approximately 1.19 million ounces. Total production was also 21% higher than in the same quarter last year. Added to this is the new processing plant in Bolivia, which is scheduled to start up in Q4.
Actually, Q3 should therefore have been extremely strong from an operational standpoint! 📈
Unfortunately, though, it looks like it’s going to be another blood-red day on the stock market today. New fears of an escalation in Iran, rising oil prices, and simultaneously falling gold ($4GLD (-1,48 %) ) and silver prices are weighing on sentiment. Well.
Unfortunately, strong operating results and a positive stock price trend don’t necessarily go hand in hand on the stock market...
I’m curious to see what Santacruz makes of this! Fundamentally, Santacruz is certainly very cheaply valued. The current P/E ratio is likely somewhere around 4—and that’s despite double-digit growth! 💪🥈
