Alexco Resource (NYSEAMERICAN:AXU) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday, 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, Roth Capital lowered their price target on shares of Alexco Resource from $3.90 to $3.70 and set a buy rating for the company in a research report on Friday, August 13th.

AXU stock opened at $1.77 on Wednesday. Alexco Resource has a 1-year low of $1.41 and a 1-year high of $3.45. The firm has a market cap of $267.11 million, a price-to-earnings ratio of -10.41 and a beta of 0.96.

Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) last released its earnings results on Tuesday, August 10th. The mining company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Alexco Resource had a negative net margin of 213.41% and a negative return on equity of 8.65%. The business had revenue of $6.46 million for the quarter, compared to the consensus estimate of $19.39 million. On average, equities research analysts forecast that Alexco Resource will post 0.05 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Alexco Resource by 298.9% in the second quarter. Morgan Stanley now owns 181,964 shares of the mining company’s stock worth $456,000 after purchasing an additional 136,352 shares during the period. Invesco Ltd. lifted its holdings in Alexco Resource by 180.5% in the second quarter. Invesco Ltd. now owns 4,631,861 shares of the mining company’s stock worth $11,579,000 after purchasing an additional 2,980,305 shares during the period. Paloma Partners Management Co acquired a new stake in Alexco Resource in the second quarter worth about $93,000. Amundi acquired a new stake in Alexco Resource in the second quarter worth about $375,000. Finally, LPL Financial LLC lifted its holdings in Alexco Resource by 21.5% in the second quarter. LPL Financial LLC now owns 49,925 shares of the mining company’s stock worth $125,000 after purchasing an additional 8,825 shares during the period. Institutional investors and hedge funds own 25.91% of the company’s stock.

About Alexco Resource

Alexco Resource Corp. engages in the exploration, development, and operation of mineral resource properties. It operates through the following business segments: Reclamation Management; Mining; and Corporate and Other. The Environmental Services segment include clean-up of historical liabilities of the Keno Hill Silver District through ERDC under a contract with the Federal Government of Canada.

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