Sinda Ltd. (NYSE:SIND) Sees Large Decline in Short Interest

Sinda Ltd. (NYSE:SIND) was the target of a large decline in short interest in the month of 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. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 219,136 shares, the days-to-cover ratio is currently 0.0 days.

Sinda Trading Up 3.9%

NYSE:SIND traded up $0.62 during trading hours on Friday, reaching $16.61. The company had a trading volume of 10,415 shares, compared to its average volume of 142,609. The stock has a 50-day moving average price of $14.74. Sinda has a twelve month low of $10.03 and a twelve month high of $18.95.

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

Institutional Investors Weigh In On Sinda

An institutional investor recently bought a new stake in Sinda stock. Bornite Capital Management LP bought a new position in Sinda Ltd. (NYSE:SIND) 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SIND shares. Royal Bank Of Canada assumed coverage on shares of Sinda in a report on Tuesday, July 21st. They set an “outperform” rating and a $19.00 target price on the stock. Scotiabank upgraded shares of Sinda to a “strong-buy” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Sinda from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. BMO Capital Markets lifted their target price on shares of Sinda from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Finally, Zacks Research raised Sinda to a “hold” rating in a report on Tuesday, July 28th. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $18.83.

Sinda Company Profile

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.