Sinda Ltd. (NYSE:SIND) Short Interest Down 80.2% in August

by · The Cerbat Gem

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

Analyst Ratings Changes

A number of brokerages have commented on SIND. Canaccord Genuity Group initiated coverage on Sinda in a research note on Tuesday, August 18th. They issued a “speculative buy” rating and a $19.00 price objective for the company. Wall Street Zen cut Sinda from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Scotiabank raised shares of Sinda to a “strong-buy” rating in a research report on Thursday, July 23rd. Zacks Research raised shares of Sinda to a “hold” rating in a research report on Tuesday, July 28th. Finally, BMO Capital Markets boosted their price target on shares of Sinda from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $18.83.

Check Out Our Latest Stock Analysis on Sinda

Sinda Stock Performance

SIND stock traded down $0.73 during mid-day trading on Friday, reaching $15.26. 229,453 shares of the company traded hands, compared to its average volume of 177,860. The company has a 50 day simple moving average of $14.81. Sinda has a fifty-two week low of $10.03 and a fifty-two week high of $18.95.

Sinda (NYSE:SIND – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). As a group, sell-side analysts forecast that Sinda will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sinda

A hedge fund recently bought a new stake in Sinda stock. Bornite Capital Management LP bought a new position in Sinda Ltd. (NYSE:SIND – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 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 approximately 0.13% of Sinda at the end of the most recent reporting period.

About Sinda

(Get Free Report)

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.

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