Titan Mining Corporation (NYSEAMERICAN:TII – Get Free Report) saw unusually large options trading on Thursday. Traders acquired 5,066 call options on the stock. This is an increase of 1,985% compared to the average daily volume of 243 call options.
Hedge Funds Weigh In On Titan Mining
Institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in shares of Titan Mining during the fourth quarter worth approximately $19,643,000. NewGen Asset Management Ltd acquired a new position in shares of Titan Mining during the 4th quarter worth $1,052,000. DLD Asset Management LP acquired a new position in Titan Mining during the fourth quarter worth about $296,000. Quadrature Capital Ltd acquired a new position in Titan Mining during the 4th quarter worth approximately $211,000. Finally, Jane Street Group LLC bought a new position in shares of Titan Mining in the 4th quarter valued at $115,000.
Analyst Ratings Changes
Separately, HC Wainwright reissued a “buy” rating and issued a $6.50 target price on shares of Titan Mining in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Titan Mining has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.
Titan Mining Trading Down 1.6%
NYSEAMERICAN:TII traded down $0.04 during mid-day trading on Thursday, hitting $2.12. The stock had a trading volume of 60,449 shares, compared to its average volume of 843,113. Titan Mining has a twelve month low of $1.25 and a twelve month high of $5.65. The stock has a 50 day simple moving average of $2.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.48 and a current ratio of 0.68.
Titan Mining (NYSEAMERICAN:TII – Get Free Report) last posted 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 business had revenue of $19.60 million for the quarter. Sell-side analysts forecast that Titan Mining will post -0.12 earnings per share for the current year.
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.
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