Titan Mining Corporation (NYSEAMERICAN:TII) Short Interest Up 339.9% in June

Titan Mining Corporation (NYSEAMERICAN:TII) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,544,359 shares, an increase of 339.9% from the June 15th total of 578,361 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 4,727,452 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $6.50 target price on shares of Titan Mining in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.50.

Institutional Trading of Titan Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in TII. NewGen Asset Management Ltd bought a new position in shares of Titan Mining in the fourth quarter valued at approximately $1,052,000. Hillsdale Investment Management Inc. purchased a new position in shares of Titan Mining during the fourth quarter worth about $78,000. Thoroughbred Financial Services LLC purchased a new position in shares of Titan Mining during the fourth quarter worth about $35,000. AlphaCore Capital LLC bought a new position in shares of Titan Mining in the fourth quarter worth approximately $99,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Titan Mining in the fourth quarter valued at approximately $19,643,000.

Titan Mining Stock Performance

Shares of TII traded down $0.11 during mid-day trading on Friday, hitting $2.27. The stock had a trading volume of 275,100 shares, compared to its average volume of 2,591,344. The stock’s fifty day moving average price is $2.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.68 and a quick ratio of 0.48. Titan Mining has a 52 week low of $0.77 and a 52 week high of $5.65.

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

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.