UPDATE: Canaccord Genuity Downgrades Alexco Resource (AXU) to Sell

(Updated - July 18, 2013 9:54 AM EDT)

Canaccord Genuity downgraded Alexco Resource (NYSE: AXU) from Hold to Sell. Analyst Nicholas Campbell thinks Alexco may run out of cash by Q3 and will likely have to renegotiate a 2008 agreement with Silver Wheaton (NYSE: SLW) for Keno Hill. Campbell added that Keno Hill district in Yukon may not be viable based on current operating parameters and the company is in need of a white knight.

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 $1.24 yesterday.

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