Sinda Ltd. (NYSE:SIND) Short Interest Update

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

Institutional Investors Weigh In On Sinda

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

Sinda Stock Performance

Shares of SIND traded down $0.04 during midday trading on Friday, reaching $13.96. 36,979 shares of the stock were exchanged, compared to its average volume of 155,113. Sinda has a twelve month low of $10.03 and a twelve month high of $18.95. The firm has a 50-day simple moving average of $15.23.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup initiated coverage on shares of Sinda in a report on Tuesday, July 21st. They issued a “buy” rating and a $18.00 target price on the stock. Zacks Research raised Sinda to a “hold” rating in a research report on Tuesday, July 28th. Scotiabank upgraded Sinda to a “strong-buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada initiated coverage on shares of Sinda in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on shares of Sinda from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.83.

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.