Sinda Ltd. (NYSE:SIND) Sees Significant Drop in Short Interest

Sinda Ltd. (NYSE:SIND) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 53,082 shares, a drop of 97.5% from the June 30th total of 2,105,990 shares. Based on an average daily volume of 88,121 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Ratings Changes

Several research firms have recently issued reports on SIND. UBS Group set a $19.00 price target on shares of Sinda in a research report on Tuesday. BMO Capital Markets assumed coverage on shares of Sinda in a report on Tuesday. They issued an “outperform” rating and a $16.00 price objective for the company. Wall Street Zen cut shares of Sinda from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup started coverage on shares of Sinda in a report on Tuesday. They set a “buy” rating and a $18.00 target price on the stock. Finally, Royal Bank Of Canada initiated coverage on Sinda in a research report on Tuesday. They set an “outperform” rating and a $19.00 target price on the stock. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $18.20.

Sinda Stock Down 3.2%

NYSE:SIND traded down $0.47 during mid-day trading on Friday, hitting $13.94. 283,986 shares of the stock traded hands, compared to its average volume of 124,973. Sinda has a 12-month low of $10.80 and a 12-month 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.