Alexco Resource (AXU) Raised to Buy at 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 report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.25 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. “

Several other research firms have also recently weighed in on AXU. TheStreet upgraded shares of Alexco Resource from a d+ rating to a c- rating in a report on Friday, March 8th. Roth Capital reiterated a buy rating on shares of Alexco Resource in a report on Tuesday, March 19th.

NYSEAMERICAN:AXU opened at $1.06 on Wednesday. Alexco Resource has a twelve month low of $0.68 and a twelve month high of $1.48.

Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) last released its quarterly earnings results on Wednesday, May 8th. The mining company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $5.44 million during the quarter, compared to the consensus estimate of $3.00 million.

A number of large investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in Alexco Resource by 8.7% in the first quarter. Morgan Stanley now owns 242,508 shares of the mining company’s stock valued at $294,000 after acquiring an additional 19,408 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Alexco Resource by 72.8% in the first quarter. Renaissance Technologies LLC now owns 668,550 shares of the mining company’s stock valued at $809,000 after acquiring an additional 281,600 shares in the last quarter. Finally, ETF Managers Group LLC boosted its holdings in Alexco Resource by 25.0% in the first quarter. ETF Managers Group LLC now owns 686,372 shares of the mining company’s stock valued at $831,000 after acquiring an additional 137,443 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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