Sinda Ltd.’s (NYSE:SIND) Quiet Period Will Expire Tomorrow

Sinda’s (NYSE:SIND) quiet period will expire on Wednesday, August 5th. Sinda had issued 17,750,000 shares in its initial public offering on June 26th. The total size of the offering was $213,000,000 based on an initial share price of $12.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research firms have commented on SIND. Wall Street Zen raised shares of Sinda from a “sell” rating to a “hold” rating in a research note on Sunday. Scotiabank upgraded shares of Sinda to a “strong-buy” rating in a research report on Thursday, July 23rd. UBS Group set a $19.00 price objective on shares of Sinda in a report on Tuesday, July 21st. Royal Bank Of Canada started coverage on shares of Sinda in a research report on Tuesday, July 21st. They issued an “outperform” rating and a $19.00 target price for the company. Finally, Citigroup initiated coverage on Sinda in a research note on Tuesday, July 21st. They issued a “buy” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $18.20.

Sinda Trading Up 3.0%

Shares of SIND opened at $13.20 on Tuesday. Sinda has a 1 year low of $10.03 and a 1 year high of $15.00.

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.