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.