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

Sinda Ltd. (NYSE:SIND) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 70,943 shares, an increase of 621.3% from the August 31st total of 9,835 shares. Based on an average daily trading volume, of 153,496 shares, the short-interest ratio is currently 0.5 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages recently weighed in on SIND. Royal Bank Of Canada started coverage on shares of Sinda in a research report on Tuesday, July 21st. They issued an “outperform” rating and a $19.00 price target for the company. Weiss Ratings started coverage on Sinda in a report on Monday. They set a “sell (d)” rating on the stock. Canaccord Genuity Group began coverage on Sinda in a research report on Tuesday, August 18th. They set a “speculative buy” rating and a $19.00 target price on the stock. Zacks Research raised Sinda to a “hold” rating in a report on Tuesday, July 28th. Finally, Scotiabank raised Sinda to a “strong-buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sinda presently has a consensus rating of “Moderate Buy” and an average target price of $18.83.

Sinda Stock Down 2.2%

Shares of Sinda stock traded down $0.32 on Thursday, reaching $13.95. 82,923 shares of the stock were exchanged, compared to its average volume of 186,985. Sinda has a 1-year low of $10.03 and a 1-year high of $18.95. The stock’s fifty day simple moving average is $15.22.

Sinda (NYSE:SIND) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Equities research analysts anticipate that Sinda will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

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

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.