NewGen Asset Management Ltd acquired a new position in Titan Mining Corporation (NYSEAMERICAN:TII – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 374,858 shares of the company’s stock, valued at approximately $1,052,000. Titan Mining comprises approximately 0.6% of NewGen Asset Management Ltd’s holdings, making the stock its 21st largest position.
Other institutional investors have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC acquired a new position in Titan Mining in the fourth quarter valued at approximately $35,000. HighTower Advisors LLC acquired a new position in Titan Mining in the fourth quarter valued at approximately $51,000. Commonwealth Equity Services LLC acquired a new position in Titan Mining in the fourth quarter valued at approximately $56,000. Hillsdale Investment Management Inc. acquired a new position in Titan Mining in the fourth quarter valued at approximately $78,000. Finally, Goldman Sachs Group Inc. acquired a new position in Titan Mining in the fourth quarter valued at approximately $84,000.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright dropped their price target on Titan Mining from $6.75 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Titan Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.
Titan Mining Stock Up 0.9%
Shares of Titan Mining stock opened at $2.25 on Tuesday. Titan Mining Corporation has a one year low of $0.53 and a one year high of $5.65. The company has a 50-day moving average price of $2.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.68 and a quick ratio of 0.48.
Titan Mining Company Profile
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.
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