Short Interest in Titan Mining Corporation (NYSEAMERICAN:TII) Rises By 339.9%

Titan Mining Corporation (NYSEAMERICAN:TII) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,544,359 shares, a growth of 339.9% from the June 15th total of 578,361 shares. Based on an average trading volume of 4,727,452 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.6% of the company’s stock are sold short.

Titan Mining Price Performance

TII traded down $0.19 during trading on Monday, reaching $2.08. 560,853 shares of the stock traded hands, compared to its average volume of 2,590,952. The firm’s 50-day moving average price is $2.31. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.73. Titan Mining has a fifty-two week low of $0.81 and a fifty-two week high of $5.65.

Titan Mining (NYSEAMERICAN:TII) last issued its earnings results on Tuesday, May 12th. The company reported ($0.14) earnings per share for the quarter. Titan Mining had a negative return on equity of 332.15% and a negative net margin of 17.67%.The firm had revenue of $19.60 million during the quarter. Analysts forecast that Titan Mining will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.50 target price on shares of Titan Mining in a report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

Hedge Funds Weigh In On Titan Mining

Several institutional investors have recently bought and sold shares of the stock. NewGen Asset Management Ltd acquired a new stake in shares of Titan Mining in the fourth quarter worth about $1,052,000. Hillsdale Investment Management Inc. acquired a new position in shares of Titan Mining during the 4th quarter valued at about $78,000. Thoroughbred Financial Services LLC acquired a new position in shares of Titan Mining during the 4th quarter valued at about $35,000. AlphaCore Capital LLC bought a new position in shares of Titan Mining in the 4th quarter valued at approximately $99,000. Finally, DLD Asset Management LP bought a new position in shares of Titan Mining in the 4th quarter valued at approximately $296,000.

About Titan Mining

Titan Mining Corporation, a natural resource company, acquires, explores, develops, produces, and extracts mineral properties. The company explores for zinc and graphite, as well as iron-oxide copper gold deposits. Its principal asset is the Empire State Mine project covering an area of approximately 80,000 acres located in the Balmat? Edwards mining district in northern New York. The company was formerly known as Triton Mining Corporation and changed its name to Titan Mining Corporation in November 2016.