Sinda (NYSE:SIND) Now Covered by Canaccord Genuity Group

Key Points

• Canaccord Genuity initiated coverage of Sinda with a “speculative buy” rating and a $19 price target, implying approximately 14% upside from the stock’s $16.66 opening price.
• Analyst sentiment is broadly positive: Sinda has a consensus “Buy” rating and an average price target of $18.83, although one analyst recently downgraded the stock to “sell.”
• Sinda reported quarterly EPS of -$0.13, slightly below the $0.12 loss analysts expected. The company is developing a large silver-gold discovery across five mining concessions in Mexico’s Guanajuato silver belt.

Canaccord Genuity Group initiated coverage on shares of Sinda (NYSE:SIND - Get Free Report) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage set a "speculative buy" rating and a $19.00 price target on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 14.05% from the stock's current price.

SIND has been the topic of a number of other reports. BMO Capital Markets upped their target price on Sinda from $16.00 to $19.00 and gave the company an "outperform" rating in a research report on Monday. Citigroup initiated coverage on shares of Sinda in a research note on Tuesday, July 21st. They issued a "buy" rating and a $18.00 price target for the company. Scotiabank raised shares of Sinda to a "strong-buy" rating in a report on Thursday, July 23rd. Wall Street Zen downgraded shares of Sinda from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, 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 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Sinda currently has a consensus rating of "Buy" and an average price target of $18.83.

Sinda Price Performance

NYSE:SIND opened at $16.66 on Tuesday. Sinda has a 1-year low of $10.03 and a 1-year high of $18.13.

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 analysts' consensus estimates of ($0.12) by ($0.01). Research analysts anticipate that Sinda will post -0.3 EPS for the current fiscal year.

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.

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