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

Sierra Metals Inc. (NYSEAMERICAN:SMTSGet Rating) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 382,200 shares, a decrease of 64.6% from the April 30th total of 1,080,000 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 571,800 shares, the days-to-cover ratio is currently 0.7 days.

NYSEAMERICAN SMTS opened at $0.94 on Thursday. Sierra Metals has a 52 week low of $0.77 and a 52 week high of $3.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 1.16. The firm has a market cap of $153.60 million, a PE ratio of -5.22 and a beta of 1.68.

Sierra Metals (NYSEAMERICAN:SMTSGet Rating) last posted its earnings results on Wednesday, March 16th. The company reported $0.04 EPS 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 business had revenue of $62.24 million for the quarter, compared to analysts’ expectations of $68.67 million. As a group, equities research analysts anticipate that Sierra Metals will post 0.15 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in shares of Sierra Metals in the third quarter worth $46,000. BNP Paribas Arbitrage SA bought a new stake in shares of Sierra Metals in the fourth quarter worth $37,000. Dimensional Fund Advisors LP increased its stake 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 worth $52,000 after buying an additional 9,800 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Sierra Metals by 80.0% in the second quarter. Bank of America Corp DE now owns 29,500 shares of the company’s stock worth $89,000 after buying an additional 13,113 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Sierra Metals in the fourth quarter worth $54,000. Institutional investors and hedge funds own 47.72% of the company’s stock.

SMTS has been the subject of a number of research analyst reports. TheStreet downgraded shares of Sierra Metals from a “c-” rating to a “d+” rating in a research report on Friday, April 1st. CIBC dropped their target price on shares of Sierra Metals from C$1.90 to C$1.75 in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Sierra Metals from a “strong sell” rating to a “hold” rating in a research report on Friday, March 18th. HC Wainwright dropped their target price on shares of Sierra Metals from $3.75 to $3.50 and set a “buy” rating for the company in a research report on Wednesday, April 20th. Finally, Jefferies Financial Group increased their price objective on shares of Sierra Metals from C$1.80 to C$2.15 in a research report on Wednesday, March 9th.

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.

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