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

Key Points

• Sinda’s short interest plunged 80.2% to 9,835 shares as of August 31, representing virtually 0% of shares outstanding and a 0.0-day short-interest ratio.
• The stock traded at $16.61, near the upper end of its $10.03–$18.95 52-week range. Sinda reported a quarterly loss of $0.13 per share, missing analysts’ $0.12-loss estimate.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and an $18.83 target price; Bornite Capital also acquired 200,000 shares valued at approximately $2.4 million.

Sinda Ltd. (NYSE:SIND - Get Free Report) saw a significant 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. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 219,136 shares, the short-interest ratio is presently 0.0 days.

Sinda Stock Performance

Shares of NYSE:SIND traded up $0.62 during midday trading on Friday, reaching $16.61. The company had a trading volume of 10,415 shares, compared to its average volume of 142,609. Sinda has a 1-year low of $10.03 and a 1-year high of $18.95. The company's 50 day moving average is $14.74.

Sinda (NYSE:SIND - Get Free Report) last issued its quarterly earnings results 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, equities analysts predict that Sinda will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sinda stock. Bornite Capital Management LP acquired a new stake in Sinda Ltd. (NYSE:SIND - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $2,400,000. Sinda accounts for about 0.3% of Bornite Capital Management LP's investment portfolio, making the stock its 20th biggest position. Bornite Capital Management LP owned approximately 0.13% of Sinda as of its most recent SEC filing.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SIND. Scotiabank raised Sinda to a "strong-buy" rating in a research report on Thursday, July 23rd. Citigroup started coverage on Sinda in a research report on Tuesday, July 21st. They set a "buy" rating and a $18.00 price target for the company. Canaccord Genuity Group began coverage on shares of Sinda in a research note on Tuesday, August 18th. They set a "speculative buy" rating and a $19.00 price target for the company. Wall Street Zen lowered shares of Sinda from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada initiated coverage on shares of Sinda in a research report on Tuesday, July 21st. They issued an "outperform" rating and a $19.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Sinda has an average rating of "Buy" and an average target price 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.

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