Short Interest in Titan Mining Corporation (NYSEAMERICAN:TII) Grows By 339.9%

Key Points

• Short interest in Titan Mining surged 339.9% in June, rising to 2.54 million shares, though that still represents only 2.6% of the float and a low 0.5-day short-interest ratio.
• Analysts remain cautiously positive on the stock, with HC Wainwright reiterating a buy rating and a $6.50 price target; the consensus rating is Moderate Buy.
• Titan Mining’s shares were down 4.6% to $2.27, and the company recently reported a quarterly EPS loss of $0.14 on $19.6 million in revenue, with analysts expecting another loss for the full year.

Titan Mining Corporation (NYSEAMERICAN:TII - Get Free Report) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,544,359 shares, an increase of 339.9% from the June 15th total of 578,361 shares. Currently, 2.6% of the company's stock are sold short. Based on an average daily trading volume, of 4,727,452 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Titan Mining

Institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new position in Titan Mining in the fourth quarter worth $19,643,000. NewGen Asset Management Ltd bought a new position in Titan Mining in the 4th quarter valued at $1,052,000. DLD Asset Management LP purchased a new stake in shares of Titan Mining during the 4th quarter valued at $296,000. Quadrature Capital Ltd purchased a new stake in shares of Titan Mining during the 4th quarter valued at $211,000. Finally, Jane Street Group LLC bought a new stake in shares of Titan Mining during the 4th quarter worth $115,000.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and set a $6.50 price target on shares of Titan Mining in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Titan Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

Titan Mining Stock Down 4.6%

Shares of TII traded down $0.11 during trading hours on Friday, reaching $2.27. 275,100 shares of the stock traded hands, compared to its average volume of 2,591,344. Titan Mining has a 52 week low of $0.77 and a 52 week high of $5.65. The stock has a fifty day moving average price of $2.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.68 and a quick ratio of 0.48.

Titan Mining (NYSEAMERICAN:TII - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $19.60 million during the quarter. Titan Mining had a negative return on equity of 332.15% and a negative net margin of 17.67%. Research analysts expect that Titan Mining will post -0.12 earnings per share for the current fiscal year.

Titan Mining Company Profile

Titan Mining Corporation, a natural resource company, acquires, explores, develops, produces, and extracts mineral properties. The company explores for zinc and graphite, as well as iron-oxide copper gold deposits. Its principal asset is the Empire State Mine project covering an area of approximately 80,000 acres located in the Balmat– Edwards mining district in northern New York. The company was formerly known as Triton Mining Corporation and changed its name to Titan Mining Corporation in November 2016.

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