Blue Moon Metals Inc. $BMM Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Blue Moon Metals Inc. (NASDAQ:BMM) by 1,314.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,875,569 shares of the company’s stock after buying an additional 3,601,539 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Blue Moon Metals were worth $24,569,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. DLD Asset Management LP acquired a new stake in shares of Blue Moon Metals during the 2nd quarter valued at approximately $639,000. Deutsche Bank AG lifted its stake in Blue Moon Metals by 41.3% during the second quarter. Deutsche Bank AG now owns 953,102 shares of the company’s stock worth $6,090,000 after purchasing an additional 278,801 shares during the last quarter. Finally, Periscope Capital Inc. acquired a new position in Blue Moon Metals in the second quarter worth $63,432,000.

Blue Moon Metals Stock Down 3.6%

BMM stock opened at $5.31 on Tuesday. Blue Moon Metals Inc. has a 12 month low of $2.20 and a 12 month high of $8.63. The company’s 50 day simple moving average is $5.79.

Analyst Ratings Changes

Several research firms have weighed in on BMM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blue Moon Metals in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of Blue Moon Metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Maxim Group assumed coverage on shares of Blue Moon Metals in a research note on Friday, June 12th. They issued a “buy” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.00.