Sinda Ltd.’s Quiet Period Set To Expire on August 5th (NYSE:SIND)

Sinda’s (NYSE:SIND) quiet period will end on Wednesday, August 5th. Sinda had issued 17,750,000 shares in its IPO on June 26th. The total size of the offering was $213,000,000 based on an initial share price of $12.00. During Sinda’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets began coverage on Sinda in a research note on Tuesday, July 21st. They set an “outperform” rating and a $16.00 price objective on the stock. Citigroup assumed coverage on Sinda in a research note on Tuesday, July 21st. They issued a “buy” rating and a $18.00 target price for the company. Scotiabank upgraded Sinda to a “strong-buy” rating in a report on Thursday, July 23rd. UBS Group set a $19.00 price target on Sinda in a research report on Tuesday, July 21st. Finally, Wall Street Zen cut Sinda from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sinda currently has an average rating of “Buy” and an average price target of $18.20.

Sinda Trading Up 5.9%

Shares of SIND stock opened at $13.23 on Friday. Sinda has a 12-month low of $10.03 and a 12-month high of $15.00.

About Sinda

We hold title to, or have exploration and exploitation rights on, five contiguous mining concessions covering a large-scale, high-grade, silver-gold greenfield discovery located in the historic Guanajuato epithermal silver belt of Mexico (the “Sinda Property” or the “Project”). The Sinda Property is a large primary silver asset that we believe has the potential to be a globally significant mining operation. The Sinda Property is located approximately 22 miles (35 kilometers) from the colonial city of San Miguel de Allende in the Mexican state of Guanajuato, approximately 180 miles (290 kilometers) northwest of Mexico City and 28 miles (45 kilometers) southeast of the Guanajuato Mining District, in close proximity to several of the world’s largest and historically most productive silver deposits and mines.