Van ECK Associates Corp acquired a new position in shares of MDA Space Ltd. (NYSE:MDA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,289,261 shares of the company's stock, valued at approximately $135,771,000. Van ECK Associates Corp owned about 2.03% of MDA Space at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in MDA Space during the 2nd quarter valued at approximately $4,931,000. Caisse de depot et placement du Quebec raised its holdings in MDA Space by 13.7% during the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company's stock worth $32,457,000 after purchasing an additional 94,799 shares during the last quarter. Cibc World Market Inc. lifted its position in shares of MDA Space by 15.0% in the 2nd quarter. Cibc World Market Inc. now owns 201,121 shares of the company's stock worth $8,303,000 after purchasing an additional 26,193 shares during the period. Deutsche Bank AG lifted its position in shares of MDA Space by 85.9% in the 2nd quarter. Deutsche Bank AG now owns 54,516 shares of the company's stock worth $2,250,000 after purchasing an additional 25,197 shares during the period. Finally, SCS Capital Management LLC bought a new stake in shares of MDA Space in the 2nd quarter valued at $1,003,000.
Analyst Ratings Changes
A number of equities analysts recently weighed in on MDA shares. Weiss Ratings downgraded shares of MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Zacks Research raised MDA Space from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 11th. ATB Cormark Capital Markets lowered MDA Space from a "moderate buy" rating to a "hold" rating in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of MDA Space in a report on Monday, June 22nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $49.00 price objective on shares of MDA Space in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.00.
Check Out Our Latest Stock Report on MDA
MDA Space Trading Down 4.9%
Shares of NYSE MDA opened at $28.86 on Friday. The firm has a market capitalization of $4.68 billion and a price-to-earnings ratio of 53.44. The firm's 50-day moving average is $33.91. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. MDA Space Ltd. has a 1-year low of $23.23 and a 1-year high of $49.37.
MDA Space (NYSE:MDA - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. MDA Space had a return on equity of 9.42% and a net margin of 5.68%.The business had revenue of $360.18 million during the quarter, compared to analyst estimates of $321.87 million. Equities research analysts forecast that MDA Space Ltd. will post 0.95 EPS for the current year.
MDA Space Profile
(
Free Report)
MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.
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