Sinda Ltd. (NYSE:SIND) Stock Short Interest Jumps 621.3%

Sinda Ltd. (NYSE:SIND) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 70,943 shares, an increase of 621.3% from the August 31st total of 9,835 shares. Based on an average trading volume of 153,496 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are sold short.

Sinda Trading Up 0.4%

Shares of NYSE:SIND traded up $0.05 during trading on Friday, reaching $14.05. The company’s stock had a trading volume of 21,764 shares, compared to its average volume of 144,998. Sinda has a 12 month low of $10.03 and a 12 month high of $18.95. The company’s 50 day moving average price is $15.22.

Sinda (NYSE:SIND) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). As a group, equities analysts forecast that Sinda will post -0.32 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SIND. Wall Street Zen downgraded shares of Sinda from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup began coverage on shares of Sinda in a report on Tuesday, July 21st. They set a “buy” rating and a $18.00 price objective for the company. Canaccord Genuity Group began coverage on Sinda in a report on Tuesday, August 18th. They issued a “speculative buy” rating and a $19.00 target price on the stock. Royal Bank Of Canada initiated coverage on Sinda in a report on Tuesday, July 21st. They issued an “outperform” rating and a $19.00 target price on the stock. Finally, BMO Capital Markets increased their price target on Sinda from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.83.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Sinda stock. Bornite Capital Management LP acquired a new stake in shares of Sinda Ltd. (NYSE:SIND) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 200,000 shares of the company’s stock, valued at approximately $2,400,000. Sinda comprises 0.3% of Bornite Capital Management LP’s portfolio, making the stock its 20th largest holding. Bornite Capital Management LP owned approximately 0.13% of Sinda as of its most recent filing with the Securities and Exchange Commission (SEC).

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.