Sinda Ltd.’s (NYSE:SIND) Quiet Period Will Expire on August 5th

Sinda’s (NYSE:SIND) quiet period is set to expire on Wednesday, August 5th. Sinda had issued 17,750,000 shares in its IPO 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 any underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SIND. Citigroup initiated coverage on shares of Sinda in a research report on Tuesday, July 21st. They issued a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen raised shares of Sinda from a “sell” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets started coverage on shares of Sinda in a report on Tuesday, July 21st. They issued an “outperform” rating and a $16.00 price target on the stock. Zacks Research raised shares of Sinda to a “hold” rating in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada assumed coverage on shares of Sinda in a research report on Tuesday, July 21st. They set an “outperform” rating and a $19.00 price objective on the stock. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.20.

Sinda Stock Performance

Shares of Sinda stock opened at $12.77 on Friday. Sinda has a 12 month low of $10.03 and a 12 month high of $15.00.

Sinda Company Profile

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.