Santacruz Silver Mining Ltd. (SZSMF) Stock Analysis
DELISTED 2024
What happened to Santacruz Silver Mining Ltd. (SZSMF) stock?
Santacruz Silver Mining Ltd. (SZSMF) no longer trades on public markets. It was delisted in September 2024. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Santacruz Silver Mining Ltd. (SZSMF) trades at $0.2213. Santacruz Silver Mining Ltd. Market cap: $78.4M, Sector: Basic materials.
Last analyzed: Mar 17, 2026Analyst Coverage for SZSMF: SZSMF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates SZSMF against Basic Materials peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
SZSMF: 1/2 scored disciplines lean bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →Santacruz Silver Mining Ltd. (SZSMF) Materials & Commodity Exposure
Santacruz Silver Mining Ltd. is a Canadian-based silver mining company focused on acquiring, exploring, and developing mineral properties in Mexico, with its primary asset being the Zimapan Mine; the company navigates the competitive landscape of the silver mining industry while seeking growth opportunities in mineral exploration and production.
What Is the Investment Thesis for SZSMF?
Santacruz Silver Mining Ltd. presents an investment proposition centered on its silver mining operations in Mexico. With a market capitalization of $78.4M and a P/E ratio of 9.9, the company demonstrates potential profitability, supported by a profit margin of 25.1% and a gross margin of 32.6%. Key value drivers include the successful operation of the Zimapan Mine and the potential for new discoveries in its exploration properties. Growth catalysts involve increasing production efficiency, expanding resource estimates, and capitalizing on rising silver prices. However, potential risks include fluctuations in commodity prices, operational challenges at the mine, and regulatory uncertainties in Mexico. The company's high beta of 2.14 indicates significant volatility relative to the market, requiring careful consideration of risk tolerance.
Based on FMP financials and quantitative analysis
SZSMF Key Highlights
Market Cap of $78.4M indicates the company's size and market valuation within the silver mining sector.
- P/E Ratio of 9.9 suggests the stock may be undervalued compared to its earnings, potentially indicating an investment opportunity.
- Profit Margin of 25.1% demonstrates the company's ability to generate profit from its revenue, showcasing operational efficiency.
- Gross Margin of 32.6% reflects the company's efficiency in managing production costs, indicating a healthy core business.
- Beta of 2.14 indicates higher volatility compared to the market, suggesting a riskier but potentially more rewarding investment.
Who Are SZSMF's Competitors?
SZSMF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AVTXF Avantium N.V. | $6.83 | -5.92% | $60.1M | 42 |
| BADG Badger State Ethanol, LLC | $4300.00 | +8.86% | $85.0M | 46 |
| CNCZF Conico Ltd | $0.05 | +0.00% | $78.5M | 45 |
| CNDGF Condor Gold Plc | $0.38 | -5.00% | $77.7M | 44 |
| KUYAF Kuya Silver Corporation | $0.54 | -0.06% | $78.8M | 53 |
| ISVLF IMPACT Silver Corp. | $0.21 | +5.00% | $72.6M | 54 |
| AZASF Arizona Gold & Silver Inc. | $0.58 | +4.53% | $65.9M | 44 |
| KOOYF Kootenay Silver Inc. | $0.95 | +5.67% | $97.6M | 45 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are SZSMF's Key Strengths?
Established mining operations at the Zimapan Mine.
- Experienced management team.
- Strategic location in Mexico with access to mineral resources.
- Diversified portfolio of exploration properties.
What Are SZSMF's Weaknesses?
Reliance on a single operating mine.
- Exposure to commodity price volatility.
- Limited financial resources compared to larger competitors.
- Operational risks associated with mining activities.
What Could Drive SZSMF Stock Higher?
SZSMF catalyst: Exploration results from La Pechuga Property could reveal new mineral deposits and increase the company's resource base.
- Potential acquisitions of other mineral properties in Mexico could expand the company's production capacity and diversify its asset portfolio.
- Rising silver prices could improve the company's revenue and profitability.
- Optimization of mining operations at the Zimapan Mine could increase production efficiency and reduce costs.
What Are the Key Risks for SZSMF?
Financial-distress signal — its Altman Z-Score of 1.03 sits in the distress zone (elevated bankruptcy risk).
- Fluctuations in silver, zinc, lead, and copper prices could negatively impact the company's revenue and profitability.
- Changes in government regulations and mining policies in Mexico could increase operating costs and create uncertainty.
- Environmental risks and liabilities associated with mining activities could result in significant expenses.
- Competition from larger mining companies could limit the company's growth opportunities.
- Operational challenges at the Zimapan Mine, such as equipment failures or geological issues, could disrupt production.
What Are the Growth Opportunities for SZSMF?
- Expansion of Zimapan Mine: Santacruz Silver has the opportunity to expand its production capacity at the Zimapan Mine. By investing in new equipment and optimizing mining processes, the company can increase its silver output. The timeline for this expansion could be within the next 2-3 years, with potential for increased revenue and profitability. The competitive advantage lies in the existing infrastructure and established operations at the mine.
- Exploration of La Pechuga Property: The La Pechuga Property represents a significant exploration opportunity for Santacruz Silver. By conducting further drilling and geological studies, the company can identify new mineral deposits and expand its resource base. This exploration phase could take 3-5 years, with the potential to add significant value to the company's assets. Success in exploration would enhance Santacruz Silver's long-term growth prospects.
- Strategic Acquisitions: Santacruz Silver can pursue strategic acquisitions of other mineral properties in Mexico. By acquiring promising exploration projects or operating mines, the company can diversify its asset portfolio and increase its production capacity. The timeline for acquisitions depends on market conditions and available opportunities. Successful acquisitions would position Santacruz Silver as a larger player in the Mexican silver mining industry.
- Technological Advancements: Implementing advanced mining technologies can improve efficiency and reduce costs at the Zimapan Mine. This includes using automated equipment, data analytics, and remote sensing technologies to optimize mining operations. The timeline for implementing these technologies could be within the next 1-2 years, with potential for significant cost savings and increased productivity. Embracing innovation would enhance Santacruz Silver's competitive edge.
- Capitalizing on Rising Silver Prices: Santacruz Silver stands to benefit from rising silver prices. As the demand for silver increases due to industrial applications and investment demand, the company's revenue and profitability will improve. The timeline for this growth opportunity depends on global economic trends and market sentiment towards precious metals. By effectively managing its production costs, Santacruz Silver can maximize its profits during periods of high silver prices.
What Are SZSMF's Competitive Advantages?
- Access to mineral-rich properties in Mexico.
- Established operations at the Zimapan Mine.
- Expertise in exploration and mining operations.
- Strategic location in a region with favorable mining regulations.
What Does SZSMF Do?
Santacruz Silver Mining Ltd., formerly Forte Resources Inc., was incorporated in 2011 and rebranded in April 2012 to reflect its focus on silver mining. Headquartered in Vancouver, Canada, the company is dedicated to the acquisition, exploration, development, and operation of mineral properties in Mexico. Its core business revolves around exploring for silver, zinc, lead, and copper deposits. The company's primary asset is the Zimapan Mine, located in Hidalgo, Mexico, which consists of 34 mining concessions covering 5,139 hectares. Additionally, Santacruz Silver holds interests in two exploration properties: the La Pechuga Property and the Santa Gorgonia Prospect, indicating a commitment to expanding its resource base. Santacruz Silver operates through its subsidiaries, focusing on extracting and processing minerals from its concessions. The company aims to increase shareholder value through strategic acquisitions, efficient mining operations, and successful exploration programs. With 455 employees, Santacruz Silver is actively involved in the Mexican mining sector, contributing to the local economy through job creation and resource development. The company's strategy involves balancing current production with future growth opportunities through exploration and development projects.
What Products and Services Does SZSMF Offer?
- Acquires mineral properties in Mexico.
- Explores for silver, zinc, lead, and copper deposits.
- Develops and operates the Zimapan Mine.
- Processes and extracts minerals from its concessions.
- Conducts exploration activities on the La Pechuga Property and Santa Gorgonia Prospect.
- Seeks to increase shareholder value through strategic acquisitions and efficient operations.
How Does SZSMF Make Money?
- Acquiring and developing mineral properties with silver, zinc, lead, and copper deposits.
- Extracting and processing minerals from the Zimapan Mine.
- Selling the extracted minerals to generate revenue.
- Exploring new properties to expand its resource base.
What Industry Does SZSMF Operate In?
Santacruz Silver Mining Ltd. operates within the silver mining industry, a segment of the broader basic materials sector. The industry is characterized by fluctuating commodity prices, geopolitical risks, and environmental regulations. The competitive landscape includes both major mining companies and smaller exploration firms. Santacruz Silver focuses on its Mexican operations, aiming to capitalize on the region's rich mineral resources. The silver mining industry is influenced by global economic trends, industrial demand, and investment sentiment towards precious metals. Companies must navigate these factors while managing operational costs and maintaining sustainable mining practices.
Who Are SZSMF's Key Customers?
- Metal traders and brokers.
- Industrial consumers of silver, zinc, lead, and copper.
- Refineries that process raw minerals.
Key Financial Metrics
Return on assets is 4.8%, showing how much profit it generates from its asset base. SZSMF trades at a trailing price-to-earnings ratio of 9.85, below the Basic Materials sector average of ~22x. Its free cash flow yield is 10.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.72 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 20.8%, the inverse of the P/E and a quick read on earnings relative to price.
Santacruz Silver Mining Ltd. (SZSMF) Valuation Context
Valued at $78.4M, SZSMF is classified as a micro-cap stock.
Company Profile
Santacruz Silver Mining Ltd. operates in the Silver industry within the Basic Materials sector. It is headquartered in Vancouver, CA. The company is led by CEO Arturo Prestamo Elizondo CPA. SZSMF has traded publicly since 2012.
Financial Health
Santacruz Silver Mining Ltd.'s Piotroski F-Score is 7/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 1.03 places it in the distress zone, a signal of elevated financial risk.
SZSMF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in the company's future prospects, potentially signaling undervaluation.
- Community sentiment has shifted positively, with increased discussions highlighting the company's silver production capabilities.
- Recent developments in silver demand, particularly for industrial uses, may enhance revenue potential for Santacruz.
- The mining sector's overall recovery has led to optimism, aligning Santacruz with broader market trends.
Bear Case
- Concerns about operational challenges persist, as some investors question the efficiency of current mining processes.
- Negative sentiment from a segment of the community reflects worries about regulatory hurdles in the mining industry.
- Market volatility surrounding precious metals could impact Santacruz's performance, leading to cautious investor sentiment.
- Recent fluctuations in silver prices have caused uncertainty, making some investors wary of the company's ability to maintain profitability.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
SZSMF Latest News
No recent news available for SZSMF.
Classification
Industry SilverLeadership: Arturo Prestamo Elizondo CPA
CEO
Arturo Prestamo Elizondo is a Certified Public Accountant (CPA) with extensive experience in the mining industry. His background includes financial management, strategic planning, and operational oversight. Prior to joining Santacruz Silver Mining Ltd., he held various leadership positions in other mining companies, where he was responsible for financial reporting, budgeting, and risk management. His expertise in accounting and finance makes him well-suited to lead Santacruz Silver.
Track Record: As CEO of Santacruz Silver Mining Ltd., Arturo Prestamo Elizondo is responsible for overseeing the company's operations, driving growth, and managing financial performance. Under his leadership, the company has focused on optimizing production at the Zimapan Mine and advancing exploration efforts on its other properties. His strategic decisions aim to enhance shareholder value and position Santacruz Silver for long-term success.
SZSMF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that Santacruz Silver Mining Ltd. may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited financial disclosure, potentially increasing investment risk compared to companies listed on major exchanges like the NYSE or NASDAQ. Investors should exercise caution and conduct thorough due diligence before investing in OTC Other stocks.
- OTC Tier: OTC Other
- Limited financial disclosure.
- Lower trading volume and liquidity.
- Greater price volatility.
- Potential for fraud or manipulation.
- Higher risk of delisting.
- Verify the company's financial statements and SEC filings.
- Research the management team and their track record.
- Assess the company's business model and competitive position.
- Understand the risks associated with the OTC market.
- Monitor trading volume and price movements.
- Consult with a financial advisor.
- Confirm the legitimacy of the company's operations.
- Established mining operations at the Zimapan Mine.
- Experienced management team.
- Presence of exploration properties.
- Publicly available company information.
- Positive news coverage and investor sentiment.
What Investors Ask About Santacruz Silver Mining Ltd. (SZSMF) — Basic Materials
What happened to Santacruz Silver Mining Ltd. (SZSMF) stock?
Santacruz Silver Mining Ltd. (SZSMF) no longer trades on public markets. It was delisted in September 2024. The figures below are historical and are not a current quote.
Can I still buy SZSMF shares?
No. SZSMF stopped trading on public markets in September 2024, so the shares are not available through a broker. Anything you see quoted for SZSMF elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before SZSMF stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Santacruz Silver Mining Ltd.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Santacruz Silver Mining Ltd. do?
Santacruz Silver Mining Ltd. is engaged in the acquisition, exploration, development, and operation of mineral properties in Mexico. The company primarily explores for silver, zinc, lead, and copper deposits. Its main asset is the Zimapan Mine, located in Hidalgo, Mexico. Additionally, the company holds interests in exploration properties such as the La Pechuga Property and the Santa Gorgonia Prospect.
What do analysts say about SZSMF stock?
Analyst coverage for Santacruz Silver Mining Ltd. (SZSMF) is limited due to its OTC listing and smaller market capitalization. Key valuation metrics include the company's P/E ratio of 9.9, profit margin of 25.1%, and gross margin of 32.6%.
What are the main risks for SZSMF?
The main risks for Santacruz Silver Mining Ltd. include commodity price volatility, particularly fluctuations in silver, zinc, lead, and copper prices. Changes in government regulations and mining policies in Mexico could also pose a risk. Environmental risks and liabilities associated with mining activities could result in significant expenses.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Limited analyst coverage for SZSMF due to its OTC listing.
- Financial data based on available information as of 2026-03-17.