Sinda Ltd. (NYSE:SIND) Stock Short Interest Report for September

Key Points

• Short interest surged 174.8% in September to 194,918 shares, equivalent to 0.1% of outstanding shares and 1.5 days to cover based on average trading volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $18.83, above the reported trading price of $13.79.
• Sinda reported a quarterly loss of $0.13 per share, missing estimates by $0.01, while Bornite Capital Management disclosed a new 200,000-share position valued at approximately $2.4 million.

Sinda Ltd. (NYSE:SIND - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 194,918 shares, an increase of 174.8% from the September 15th total of 70,943 shares. Based on an average daily trading volume, of 132,389 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages have weighed in on SIND. UBS Group set a $19.00 target price on Sinda in a research report on Tuesday, July 21st. 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 target price on the stock. Citigroup started coverage on Sinda in a report on Tuesday, July 21st. They set a "buy" rating and a $18.00 target price on the stock. Zacks Research upgraded shares of Sinda to a "hold" rating in a research report on Tuesday, July 28th. Finally, BMO Capital Markets lifted their price objective on shares of Sinda from $16.00 to $19.00 and gave the stock an "outperform" rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given 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, the company has an average rating of "Moderate Buy" and a consensus target price of $18.83.

Sinda Stock Down 1.7%

Shares of Sinda stock traded down $0.23 during trading on Monday, hitting $13.79. The stock had a trading volume of 46,983 shares, compared to its average volume of 134,847. Sinda has a 1 year low of $10.03 and a 1 year high of $18.95. The stock's 50 day simple moving average is $15.29. The stock has a market cap of $2.19 billion and a P/E ratio of -106.04.

Sinda (NYSE:SIND - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). On average, sell-side analysts predict that Sinda will post -0.32 earnings per share for the current year.

Institutional Trading of Sinda

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 the company in its most recent filing with the SEC. The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $2,400,000. Sinda accounts for 0.3% of Bornite Capital Management LP's holdings, making the stock its 20th biggest holding. Bornite Capital Management LP owned 0.13% of Sinda at the end of the most recent reporting period.

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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