Titan Mining Corp (TSE:TI) shares dropped 16.5% during trading on Friday after TD Securities downgraded the stock from a buy rating to a hold rating. TD Securities now has a C$1.25 price target on the stock, down from their previous price target of C$2.00. Titan Mining traded as low as C$0.68 and last traded at C$0.71. Approximately 104,025 shares traded hands during mid-day trading, an increase of 150% from the average daily volume of 41,582 shares. The stock had previously closed at C$0.85.
Separately, National Bank Financial cut Titan Mining from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$1.50 to C$1.30 in a research report on Monday, January 14th.
In related news, Director Richard William Warke purchased 188,100 shares of the stock in a transaction on Wednesday, December 5th. The shares were purchased at an average cost of C$1.00 per share, for a total transaction of C$188,100.00. Insiders acquired 621,400 shares of company stock worth $661,950 over the last quarter.
The company has a quick ratio of 0.13, a current ratio of 0.37 and a debt-to-equity ratio of 15.41. The firm has a market capitalization of $86.68 million and a P/E ratio of -5.85.
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About Titan Mining (TSE:TI)
Titan Mining Corporation, a natural resources company, engages in the acquisition, exploration, and development of mineral properties. The company explores for zinc ores and base metals. Its principal asset is the Empire State Mine project that is located in Northern New York State, the United States.
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