Alexco Resource Corp. (NYSEAMERICAN:AXU) Sees Large Decline in Short Interest

Alexco Resource Corp. (NYSEAMERICAN:AXU) (TSE:AXR) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 958,700 shares, a drop of 35.7% from the September 15th total of 1,490,000 shares. Based on an average trading volume of 1,540,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.9% of the company’s shares are sold short.

NYSEAMERICAN AXU traded down $0.14 during mid-day trading on Monday, reaching $1.84. 55,695 shares of the stock were exchanged, compared to its average volume of 773,882. Alexco Resource has a 1-year low of $0.68 and a 1-year high of $2.81.

Alexco Resource (NYSEAMERICAN:AXU) (TSE:AXR) last announced its earnings results on Wednesday, August 14th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $6.50 million for the quarter, compared to analyst estimates of $5.19 million.

Several institutional investors and hedge funds have recently made changes to their positions in AXU. Bank of Montreal Can boosted its holdings in shares of Alexco Resource by 1,640.9% in the 2nd quarter. Bank of Montreal Can now owns 25,000 shares of the mining company’s stock valued at $29,000 after purchasing an additional 23,564 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 acquiring an additional 10,300 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Alexco Resource during the 2nd quarter valued at $41,000. F&V Capital Management LLC lifted its holdings in shares of Alexco Resource by 17.4% during the 3rd quarter. F&V Capital Management LLC now owns 54,000 shares of the mining company’s stock valued at $93,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of Alexco Resource during the 2nd quarter valued at $187,000.

A number of brokerages recently issued reports on AXU. TheStreet upgraded shares of Alexco Resource from a “d+” rating to a “c-” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded shares of Alexco Resource from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Monday, September 9th.

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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