Alexco Resource (NYSEAMERICAN:AXU) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Zacks.com reports. They currently have $2.50 target price on the mining company’s stock.
According to Zacks, “Alexco Resource Corp. is a precious metals exploration company with a silver focus and a growing environmental services business. The Company conducts mineral exploration in Canada, primarily in Yukon, and performs reclamation and remediation services at mine sites using its rights to certain patents and the expertise acquired by its officers. “
Separately, TheStreet raised Alexco Resource from a d+ rating to a c- rating in a research note on Thursday, July 25th.
Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) last issued its quarterly earnings results on Wednesday, August 14th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $6.50 million for the quarter, compared to the consensus estimate of $5.19 million.
Hedge funds and other institutional investors have recently modified their holdings of the business. Luminus Management LLC bought a new position in shares of Alexco Resource in the 2nd quarter worth $1,019,000. Renaissance Technologies LLC raised its position in shares of Alexco Resource by 25.3% in the 2nd quarter. Renaissance Technologies LLC now owns 837,950 shares of the mining company’s stock worth $955,000 after acquiring an additional 169,400 shares in the last quarter. Sprott Inc. raised its position in shares of Alexco Resource by 34.6% in the 2nd quarter. Sprott Inc. now owns 645,430 shares of the mining company’s stock worth $1,580,000 after acquiring an additional 165,932 shares in the last quarter. Man Group plc bought a new position in shares of Alexco Resource in the 2nd quarter worth $187,000. Finally, ETF Managers Group LLC raised its position in shares of Alexco Resource by 21.8% in the 2nd quarter. ETF Managers Group LLC now owns 835,665 shares of the mining company’s stock worth $944,000 after acquiring an additional 149,293 shares in the last quarter.
Alexco Resource Company Profile
Alexco Resource Corp. engages in the mineral exploration, and mine development and operational activities primarily in Yukon Territory, Canada. The company explores for silver, lead, and zinc deposits. It owns interests in the Keno Hill Silver District project that comprises the Flame & Moth, Bermingham, Lucky Queen, Bellekeno, and Onek deposits, as well as 725 surveyed quartz mining leases, 866 unsurveyed quartz mining claims, 8 placer claims, and 2 crown grants covering an area of 233 square kilometers located in Yukon Territory.
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