PenderFund Capital Management Ltd. Grows Position in Blue Moon Metals Inc. $BMM

PenderFund Capital Management Ltd. raised its stake in shares of Blue Moon Metals Inc. (NASDAQ:BMM) by 108.0% during the second quarter, HoldingsChannel reports. The firm owned 1,176,098 shares of the company’s stock after purchasing an additional 610,800 shares during the quarter. Blue Moon Metals makes up about 1.0% of PenderFund Capital Management Ltd.’s investment portfolio, making the stock its 25th largest position. PenderFund Capital Management Ltd.’s holdings in Blue Moon Metals were worth $7,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Blue Moon Metals by 1,314.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,875,569 shares of the company’s stock worth $24,569,000 after buying an additional 3,601,539 shares during the period. Bank of America Corp DE grew its holdings in shares of Blue Moon Metals by 2,095.4% during the second quarter. Bank of America Corp DE now owns 454,497 shares of the company’s stock valued at $2,904,000 after buying an additional 433,795 shares during the last quarter. Deutsche Bank AG increased its position in shares of Blue Moon Metals by 41.3% in the 2nd quarter. Deutsche Bank AG now owns 953,102 shares of the company’s stock valued at $6,090,000 after acquiring an additional 278,801 shares during the period. DLD Asset Management LP acquired a new position in shares of Blue Moon Metals in the 2nd quarter valued at $639,000. Finally, Periscope Capital Inc. purchased a new position in Blue Moon Metals in the 2nd quarter worth $63,432,000.

Blue Moon Metals Stock Up 4.5%

NASDAQ:BMM opened at $5.86 on Friday. The company’s 50 day moving average price is $5.71. Blue Moon Metals Inc. has a 1-year low of $2.20 and a 1-year high of $8.63.

Analyst Upgrades and Downgrades

A number of analysts have commented on BMM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blue Moon Metals in a research report on Tuesday, June 16th. Maxim Group assumed coverage on Blue Moon Metals in a research note on Friday, June 12th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Wall Street Zen raised Blue Moon Metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blue Moon Metals has an average rating of “Hold” and an average price target of $15.00.