Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Mohnish Pabrai, Dalal Street Up Their Stake in Horsehead Holding Corp (ZINC)

Mohnish Pabrai, the manager of Dalal Street, is still bullish on Horsehead Holding Corp. (NASDAQ:ZINC). In a recent Form 4 filing with the Securities and Exchange Commission, Dalal Street has revealed the acquisition of 30,166 shares in one transaction for a price of $13.98 apiece. Mohnish Pabrai has been buying this stock for some time now and his fund currently holds 6.4 million shares worth approximately $91.3 million.


Chuck Royce of Royce & Associates is not that optimistic about this stock. During the third quarter of 2013, Royce & Associates has reduced its exposure to Horsehead Holding Corp. (NASDAQ:ZINC), decreasing its stake by 10%. At the end of September 2013, the fund reported ownership of a little over 4 million shares valued at $50.8 million. Paul Marshall and Ian Wace have opened a position in this stock during Q3. As a result, their fund, Marshall Wace LLP reported ownership of 51,374 shares worth approximately $640,000 at the end of the quarter. J. Alan Reid, Jr. is also keeping an eye on this stock, with his fund, Forward Management, holding 30,000 shares reportedly worth $374 thousand.

Horsehead Holding Corp. (NASDAQ:ZINC) engage in the production and sale of zinc products mainly in the United States and Canada. Throughout 2013, the stock has been trending up and has advanced 37% to a current price of $14.26 per share. The company has a market cap of $720 million and does not pay a dividend. The stock has a beta of 2.07 and trades at a forward Price to Earnings (P/E) ratio of 18.96.

In its latest quarterly report, Horsehead Holding posted revenues of $86 million, a 14% year-over-year increase and a loss per share of $0.08. For the current quarter, analysts expect the company to increase its revenues to $106 million, but the loss per share is expected to widen to $0.15.

Disclosure: none

Recommended reading:

Coliseum Capital Buys Even More Accuride Corporation (ACW) Shares

Activist Carl Icahn Gets Two Representatives on Hologic, Inc. (HOLX)’s Board

Becker Drapkin Management Ups Position in EMCORE Corporation (EMKR) Even Higher

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.