Sinda Ltd. (NYSE:SIND) Receives Consensus Rating of “Buy” from Analysts

Shares of Sinda Ltd. (NYSE:SIND) have earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.8333.

SIND has been the subject of several recent analyst reports. Citigroup initiated coverage on Sinda in a report on Tuesday, July 21st. They issued a “buy” rating and a $18.00 target price for the company. Canaccord Genuity Group initiated coverage on Sinda in a report on Tuesday, August 18th. They set a “speculative buy” rating and a $19.00 price target on the stock. Scotiabank raised Sinda to a “strong-buy” rating in a research report on Thursday, July 23rd. Zacks Research upgraded Sinda to a “hold” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered Sinda from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On Sinda

A hedge fund recently bought a new stake in Sinda stock. Bornite Capital Management LP bought a new stake in Sinda Ltd. (NYSE:SIND) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the company’s stock, valued at approximately $2,400,000. Sinda accounts for approximately 0.3% of Bornite Capital Management LP’s holdings, making the stock its 20th biggest position. Bornite Capital Management LP owned about 0.13% of Sinda at the end of the most recent reporting period.

Sinda Price Performance

NYSE SIND opened at $16.26 on Wednesday. Sinda has a 1 year low of $10.03 and a 1 year high of $18.95. The business has a fifty day moving average price of $14.58.

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

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.