Blue Moon Metals (NASDAQ:BMM) Stock Gets Price Target Trim from Scotiabank

Blue Moon Metals (NASDAQ:BMM) had its price target trimmed by Scotiabank from C$14.00 to C$11.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Blue Moon Metals in a research report on Friday, September 11th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.00.

Blue Moon Metals Stock Performance

Shares of BMM stock traded up $0.02 during trading on Wednesday, hitting $3.15. 357,170 shares of the company were exchanged, compared to its average volume of 184,074. The business’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $5.93. Blue Moon Metals has a twelve month low of $2.42 and a twelve month high of $8.63.

Institutional Investors Weigh In On Blue Moon Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in BMM. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Blue Moon Metals by 1,314.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,875,569 shares of the company’s stock valued at $24,569,000 after buying an additional 3,601,539 shares in the last quarter. PenderFund Capital Management Ltd. lifted its stake in Blue Moon Metals by 108.0% in the second quarter. PenderFund Capital Management Ltd. now owns 1,176,098 shares of the company’s stock valued at $7,463,000 after acquiring an additional 610,800 shares during the last quarter. Moore Capital Management LP acquired a new stake in Blue Moon Metals in the second quarter valued at approximately $3,052,000. Bank of America Corp DE lifted its stake in Blue Moon Metals by 2,095.4% in the second quarter. Bank of America Corp DE now owns 454,497 shares of the company’s stock valued at $2,904,000 after acquiring an additional 433,795 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Blue Moon Metals by 41.3% in the second quarter. Deutsche Bank AG now owns 953,102 shares of the company’s stock worth $6,090,000 after acquiring an additional 278,801 shares in the last quarter.