Short Interest in Sinda Ltd. (NYSE:SIND) Drops By 97.5%

Sinda Ltd. (NYSE:SIND) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 53,082 shares, a decrease of 97.5% from the June 30th total of 2,105,990 shares. Based on an average daily trading volume, of 88,121 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Sinda in a report on Tuesday. They set an “outperform” rating and a $16.00 price target on the stock. Wall Street Zen raised Sinda to a “hold” rating in a research report on Saturday, July 4th. UBS Group set a $19.00 target price on Sinda in a report on Tuesday. Scotiabank started coverage on Sinda in a research report on Tuesday. They issued a “sector outperform” rating and a $19.00 price target on the stock. Finally, Royal Bank Of Canada began coverage on Sinda in a research note on Tuesday. They issued an “outperform” rating and a $19.00 price target for the company. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.20.

Sinda Stock Down 3.2%

Shares of SIND stock traded down $0.47 during trading hours on Friday, hitting $13.94. 283,986 shares of the company were exchanged, compared to its average volume of 124,973. Sinda has a fifty-two week low of $10.80 and a fifty-two week high of $15.00.

About Sinda

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.