Global Hunter Securities Downgrades Alexco Resource (AXU) to Neutral

August 8, 2012 10:20 AM EDT
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Price: $1.78 --0%

Rating Summary:
    0 Buy, 1 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Global Hunter Securities downgraded Alexco Resource (NYSE: AXU) from Accumulate to Neutral with a price target of $5.25 (from $8.75).

The firm comments, "Alexco (AXU) reported Q2:12 financial results that included a net loss of $2.7 million ($0.03 per share) on revenue of $19.60 million, which included the Alexco Environmental subsidiary. The Bellekeno Mine reported a small operating profit, but its overall performance was down due to lower grade silver ore processed at the mill and an increase in overall operational costs. We are lowering our 2012 and 2013 estimates to reflect a lower silver and base metals market environment. In addition, we are lowering our rating to Neutral from Accumulate and our price target to $5.25 from $8.75."

For an analyst ratings summary and ratings history on Alexco Resource click here. For more ratings news on Alexco Resource click here.

Shares of Alexco Resource closed at $4.34 yesterday.

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