PenderFund Capital Management Ltd. Buys 610,800 Shares of Blue Moon Metals Inc. $BMM

PenderFund Capital Management Ltd. grew its stake in shares of Blue Moon Metals Inc. (NASDAQ:BMM) by 108.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,176,098 shares of the company’s stock after acquiring an additional 610,800 shares during the period. Blue Moon Metals comprises approximately 1.0% of PenderFund Capital Management Ltd.’s investment portfolio, making the stock its 25th biggest holding. PenderFund Capital Management Ltd.’s holdings in Blue Moon Metals were worth $7,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BMM. Periscope Capital Inc. bought a new position in Blue Moon Metals in the second quarter worth approximately $63,432,000. DLD Asset Management LP purchased a new position in Blue Moon Metals during the 2nd quarter worth $639,000. Bank of America Corp DE raised its position in Blue Moon Metals by 2,095.4% during the 2nd quarter. Bank of America Corp DE now owns 454,497 shares of the company’s stock valued at $2,904,000 after purchasing an additional 433,795 shares in the last quarter. Deutsche Bank AG raised its position in Blue Moon Metals by 41.3% during the 2nd quarter. Deutsche Bank AG now owns 953,102 shares of the company’s stock valued at $6,090,000 after purchasing an additional 278,801 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Blue Moon Metals by 1,314.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,875,569 shares of the company’s stock worth $24,569,000 after buying an additional 3,601,539 shares during the period.

Blue Moon Metals Trading Up 4.5%

Shares of NASDAQ:BMM opened at $5.86 on Friday. The company’s 50-day simple moving average is $5.71. Blue Moon Metals Inc. has a 1 year low of $2.20 and a 1 year high of $8.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Maxim Group started coverage on Blue Moon Metals in a research report on Friday, June 12th. They set a “buy” rating and a $15.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Blue Moon Metals in a report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of Blue Moon Metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Blue Moon Metals currently has a consensus rating of “Hold” and a consensus target price of $15.00.