Titan Mining Corporation (NYSEAMERICAN:TII) Short Interest Down 42.0% in July

Key Points

• Titan Mining’s short interest fell 42% in July to 1.47 million shares, representing about 1.5% of shares outstanding and a short-interest ratio of 2.6 days.
• Several institutional investors opened positions, including Alyeska Investment Group, which acquired a stake valued at approximately $19.6 million.
• HC Wainwright reaffirmed a “Buy” rating with a $6.50 price target; however, Titan Mining reported a quarterly loss of $0.14 per share, negative margins, and shares recently traded at $1.96.

Titan Mining Corporation (NYSEAMERICAN:TII - Get Free Report) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 1,474,739 shares, a decrease of 42.0% from the June 30th total of 2,544,359 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 560,147 shares, the short-interest ratio is presently 2.6 days.

Institutional Trading of Titan Mining

Several hedge funds and other institutional investors have recently bought and sold shares of TII. World Investment Advisors acquired a new position in Titan Mining in the 1st quarter valued at $36,000. Quadrature Capital Ltd acquired a new stake in shares of Titan Mining during the fourth quarter worth $211,000. NewGen Asset Management Ltd acquired a new stake in shares of Titan Mining during the fourth quarter worth $1,052,000. DLD Asset Management LP purchased a new stake in shares of Titan Mining in the fourth quarter valued at $296,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Titan Mining in the fourth quarter valued at $19,643,000.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $6.50 price target on shares of Titan Mining in a research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

Titan Mining Price Performance

Shares of TII stock opened at $1.96 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.68 and a quick ratio of 0.48. The company has a 50-day moving average price of $2.20. Titan Mining has a twelve month low of $1.25 and a twelve month high of $5.65.

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

About Titan Mining

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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