NewGen Asset Management Ltd Takes Position in Titan Mining Corporation $TII

NewGen Asset Management Ltd purchased a new stake in shares of Titan Mining Corporation (NYSEAMERICAN:TII) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 374,858 shares of the company’s stock, valued at approximately $1,052,000. Titan Mining makes up about 0.6% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 21st biggest position. NewGen Asset Management Ltd owned approximately 0.41% of Titan Mining as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TII. AlphaCore Capital LLC acquired a new stake in shares of Titan Mining during the fourth quarter valued at about $99,000. HighTower Advisors LLC bought a new position in Titan Mining during the 4th quarter worth $51,000. Thoroughbred Financial Services LLC bought a new position in Titan Mining during the 4th quarter worth $35,000. Hillsdale Investment Management Inc. bought a new position in Titan Mining during the 4th quarter worth $78,000. Finally, Goldman Sachs Group Inc. bought a new position in Titan Mining during the 4th quarter worth $84,000.

Titan Mining Stock Up 0.9%

Shares of NYSEAMERICAN:TII opened at $2.25 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.68 and a quick ratio of 0.48. Titan Mining Corporation has a 12-month low of $0.53 and a 12-month high of $5.65. The stock’s fifty day moving average is $2.52.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their target price on Titan Mining from $6.75 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.50.

About Titan Mining

Titan Mining Corporation, a natural resource company, acquires, explores, develops, produces, and extracts mineral properties. The company explores for zinc and graphite, as well as iron-oxide copper gold deposits. Its principal asset is the Empire State Mine project covering an area of approximately 80,000 acres located in the Balmat– Edwards mining district in northern New York. The company was formerly known as Triton Mining Corporation and changed its name to Titan Mining Corporation in November 2016.