Traders Purchase High Volume of Call Options on Titan Mining (NYSEAMERICAN:TII)

Key Points

• Titan Mining saw unusually heavy options activity, with traders buying 5,066 call options, nearly 20 times the typical volume.
• The stock fell 1.6% to $2.12 on Thursday, while trading volume was far below normal at 60,449 shares versus an average of 843,113.
• Analysts remain optimistic overall, with HC Wainwright reiterating a buy rating and a $6.50 price target; the stock currently has a consensus rating of Moderate Buy.

Titan Mining Corporation (NYSEAMERICAN:TII - Get Free Report) saw unusually large options trading on Thursday. Traders purchased 5,066 call options on the stock. This represents an increase of 1,985% compared to the typical volume of 243 call options.

Institutional Investors Weigh In On Titan Mining

Several large investors have recently made changes to their positions in TII. Alyeska Investment Group L.P. acquired a new stake in shares of Titan Mining during the fourth quarter worth $19,643,000. NewGen Asset Management Ltd acquired a new position in Titan Mining in the 4th quarter worth $1,052,000. DLD Asset Management LP acquired a new position in Titan Mining in the 4th quarter worth $296,000. Quadrature Capital Ltd bought a new position in Titan Mining during the 4th quarter worth about $211,000. Finally, Jane Street Group LLC bought a new position in Titan Mining during the 4th quarter worth about $115,000.

Titan Mining Trading Down 1.6%

Shares of NYSEAMERICAN TII traded down $0.04 during mid-day trading on Thursday, reaching $2.12. 60,449 shares of the company's stock were exchanged, compared to its average volume of 843,113. Titan Mining has a twelve month low of $1.25 and a twelve month high of $5.65. 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 firm's fifty day moving average is $2.24.

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 business had revenue of $19.60 million during the quarter. Titan Mining had a negative net margin of 17.67% and a negative return on equity of 332.15%. Sell-side analysts anticipate that Titan Mining will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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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