Alexco Resource (NYSEAMERICAN:AXU) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research cut shares of Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) from a hold rating to a sell rating in a research report released 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 raised Alexco Resource from a d+ rating to a c- rating in a research report on Thursday, July 25th.

Alexco Resource stock opened at $1.95 on Monday. Alexco Resource has a 1-year low of $0.68 and a 1-year high of $2.14.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Luminus Management LLC acquired a new stake in Alexco Resource during the 2nd quarter worth about $1,019,000. Renaissance Technologies LLC lifted its position in Alexco Resource by 25.3% during 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 during the period. ETF Managers Group LLC lifted its position in Alexco Resource by 21.8% during 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 during the period. Sprott Inc. lifted its position in Alexco Resource by 34.6% during 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 during the period. Finally, Morgan Stanley lifted its position in Alexco Resource by 2.8% during the 2nd quarter. Morgan Stanley now owns 249,232 shares of the mining company’s stock worth $284,000 after acquiring an additional 6,724 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.

Featured Story: What is a Real Estate Investment Trust (REIT)?

Get a free copy of the Zacks research report on Alexco Resource (AXU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alexco Resource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexco Resource and related companies with MarketBeat.com's FREE daily email newsletter.