Short Interest in Titan Mining Corporation (NYSEAMERICAN:TII) Declines By 42.0%

Titan Mining Corporation (NYSEAMERICAN:TII) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totaling 1,474,739 shares, a drop of 42.0% from the June 30th total of 2,544,359 shares. Based on an average daily volume of 560,147 shares, the short-interest ratio is currently 2.6 days. Approximately 1.5% of the company’s stock are short sold.

Titan Mining Stock Performance

Shares of TII stock traded up $0.10 during mid-day trading on Thursday, hitting $2.04. 141,020 shares of the stock traded hands, compared to its average volume of 823,498. Titan Mining has a 52-week low of $1.25 and a 52-week high of $5.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s fifty day moving average price is $2.18.

Titan Mining (NYSEAMERICAN:TII) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $19.60 million during the quarter. Titan Mining had a negative return on equity of 332.15% and a negative net margin of 17.67%. On average, equities analysts forecast that Titan Mining will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $6.50 price objective on shares of Titan Mining in a research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.50.

Hedge Funds Weigh In On Titan Mining

Several institutional investors and hedge funds have recently bought and sold shares of TII. Alyeska Investment Group L.P. purchased a new stake in shares of Titan Mining during the 4th quarter valued at $19,643,000. NewGen Asset Management Ltd purchased a new position in Titan Mining during the 4th quarter worth $1,052,000. DLD Asset Management LP purchased a new position in Titan Mining during the 4th quarter worth $296,000. Quadrature Capital Ltd acquired a new position in Titan Mining during the 4th quarter valued at about $211,000. Finally, Jane Street Group LLC acquired a new position in Titan Mining during the 4th quarter valued at about $115,000.

Titan Mining Company Profile

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.