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

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

Shares of Sierra Metals stock traded down $0.08 on Thursday, reaching $0.84. 6,634 shares of the company traded hands, compared to its average volume of 458,779. Sierra Metals has a 52 week low of $0.77 and a 52 week high of $3.37. The company has a market capitalization of $137.42 million, a P/E ratio of -5.11 and a beta of 1.68. The company has a quick ratio of 0.83, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Sierra Metals (NYSEAMERICAN:SMTS – Get Rating) last released its quarterly earnings data on Wednesday, March 16th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $62.24 million during the quarter, compared to the consensus estimate of $68.67 million. Sierra Metals had a negative net margin of 11.59% and a positive return on equity of 9.20%. Equities analysts expect that Sierra Metals will post 0.13 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Sierra Metals in the 1st quarter valued at $36,000. BNP Paribas Arbitrage SA bought a new stake in shares of Sierra Metals during the 4th quarter valued at about $37,000. Dimensional Fund Advisors LP boosted its stake in Sierra Metals by 50.9% during the third quarter. Dimensional Fund Advisors LP now owns 29,059 shares of the company’s stock worth $52,000 after acquiring an additional 9,800 shares in the last quarter. Citadel Advisors LLC bought a new stake in Sierra Metals during the fourth quarter worth about $54,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 worth $78,000 after buying an additional 49,200 shares during the last quarter. 47.72% of the stock is owned by institutional investors.

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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