Zacks Investment Research downgraded shares of Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) from a hold rating to a sell rating in a research report report published on Monday morning, Zacks.com reports.
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 upgraded Alexco Resource from a d+ rating to a c- rating in a research note on Thursday, July 25th.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its stake in Alexco Resource by 2.8% during the 2nd quarter. Morgan Stanley now owns 249,232 shares of the mining company’s stock valued at $284,000 after purchasing an additional 6,724 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Alexco Resource by 55.1% during the 2nd quarter. Jane Street Group LLC now owns 29,000 shares of the mining company’s stock valued at $33,000 after buying an additional 10,300 shares during the period. Bank of Montreal Can lifted its holdings in shares of Alexco Resource by 1,640.9% during the 2nd quarter. Bank of Montreal Can now owns 25,000 shares of the mining company’s stock valued at $29,000 after buying an additional 23,564 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Alexco Resource during the 2nd quarter valued at $41,000. Finally, ETF Managers Group LLC lifted its holdings in shares of Alexco Resource by 25.0% during the 1st quarter. ETF Managers Group LLC now owns 686,372 shares of the mining company’s stock valued at $831,000 after buying an additional 137,443 shares during the period.
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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