Sinda Ltd. (NYSE:SIND) Sees Large Drop in Short Interest

Sinda Ltd. (NYSE:SIND) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 9,835 shares, a drop of 80.2% from the August 15th total of 49,549 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 219,136 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Several analysts recently weighed in on SIND shares. Canaccord Genuity Group assumed coverage on shares of Sinda in a research note on Tuesday, August 18th. They issued a “speculative buy” rating and a $19.00 price objective on the stock. Zacks Research raised Sinda to a “hold” rating in a report on Tuesday, July 28th. Citigroup assumed coverage on shares of Sinda in a report on Tuesday, July 21st. They issued a “buy” rating and a $18.00 price objective for the company. Scotiabank raised shares of Sinda to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen cut shares of Sinda from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $18.83.

Sinda Price Performance

SIND traded down $0.73 on Friday, hitting $15.26. The company had a trading volume of 229,453 shares, compared to its average volume of 177,860. The company has a fifty day simple moving average of $14.81. Sinda has a 12-month low of $10.03 and a 12-month high of $18.95.

Sinda (NYSE:SIND) last posted its earnings results on Friday, August 14th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). As a group, sell-side analysts expect that Sinda will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Sinda

An institutional investor recently bought a new position in Sinda stock. Bornite Capital Management LP purchased a new position in shares of Sinda Ltd. (NYSE:SIND) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 200,000 shares of the company’s stock, valued at approximately $2,400,000. Sinda makes up about 0.3% of Bornite Capital Management LP’s holdings, making the stock its 20th biggest holding. Bornite Capital Management LP owned approximately 0.13% of Sinda at the end of the most recent quarter.

Sinda Company Profile

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.