Sierra Metals Inc. (NYSEAMERICAN:SMTS) Sees Large Decline in Short Interest

Posted by on Jun 16th, 2022

Sierra Metals Inc. (NYSEAMERICAN:SMTS – Get Rating) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 303,200 shares, a drop of 20.7% from the May 15th total of 382,200 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 483,100 shares, the short-interest ratio is currently 0.6 days.

A number of brokerages have commented on SMTS. TheStreet cut shares of Sierra Metals from a “c-” rating to a “d+” rating in a research report on Friday, April 1st. HC Wainwright lowered their target price on shares of Sierra Metals from $3.75 to $3.50 and set a “buy” rating on the stock in a report on Wednesday, April 20th. Jefferies Financial Group increased their price objective on shares of Sierra Metals from C$1.80 to C$2.15 in a research note on Wednesday, March 9th. Finally, CIBC decreased their price objective on shares of Sierra Metals from C$1.90 to C$1.75 in a research note on Wednesday, May 4th.

Large investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in Sierra Metals in the first quarter valued at approximately $36,000. BNP Paribas Arbitrage SA purchased a new position in shares of Sierra Metals in the fourth quarter valued at $37,000. Dimensional Fund Advisors LP increased its position in shares of Sierra Metals by 50.9% in the third quarter. Dimensional Fund Advisors LP now owns 29,059 shares of the company’s stock valued at $52,000 after buying an additional 9,800 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Sierra Metals in the fourth quarter valued at $54,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sierra Metals by 296.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,800 shares of the company’s stock valued at $78,000 after buying an additional 49,200 shares in the last quarter. 47.72% of the stock is owned by hedge funds and other institutional investors.

NYSEAMERICAN:SMTS traded down $0.08 during mid-day trading on Thursday, hitting $0.84. 6,634 shares of the company’s stock were exchanged, compared to its average volume of 458,779. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.83. The firm has a market capitalization of $137.42 million, a P/E ratio of -5.11 and a beta of 1.68. Sierra Metals has a one year low of $0.77 and a one year high of $3.37.

Sierra Metals (NYSEAMERICAN:SMTS – Get Rating) last issued its earnings results on Wednesday, March 16th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Sierra Metals had a negative net margin of 11.59% and a positive return on equity of 9.20%. The firm had revenue of $62.24 million during the quarter, compared to analyst estimates of $68.67 million. On average, equities research analysts expect that Sierra Metals will post 0.13 earnings per share for the current fiscal year.

Sierra Metals Company Profile (Get Rating)

Sierra Metals Inc, together with its subsidiaries, focuses on the production, exploration, and development of precious and base metals in Peru and Mexico. It primarily focuses on exploration of silver, copper, lead, zinc, and gold deposits. The company's flagship property is the 81.84% owned polymetallic Yauricocha Mine covering an area of 18,778 hectares located in the Yauyos province in Peru.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for Sierra Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Metals and related companies with MarketBeat.com's FREE daily email newsletter.