HudBay Minerals Inc (HBM) Rating Increased to Hold at Zacks Investment Research

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “

Several other equities analysts have also issued reports on the company. ValuEngine lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub upgraded HudBay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of HudBay Minerals in a research note on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.06.

HudBay Minerals (NYSE:HBM) opened at 7.10 on Thursday. The company has a market cap of $1.68 billion, a PE ratio of 177.50 and a beta of 3.29. The company has a 50-day moving average of $6.71 and a 200-day moving average of $6.62. HudBay Minerals has a 52 week low of $3.57 and a 52 week high of $9.15.

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Several large investors have recently modified their holdings of the company. Trexquant Investment LP raised its stake in shares of HudBay Minerals by 78.7% in the second quarter. Trexquant Investment LP now owns 18,768 shares of the mining company’s stock worth $108,000 after buying an additional 8,268 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of HudBay Minerals during the first quarter worth $118,000. Brave Asset Management Inc. acquired a new stake in shares of HudBay Minerals during the second quarter worth $121,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of HudBay Minerals during the first quarter worth $127,000. Finally, ARP Americas LLC acquired a new stake in shares of HudBay Minerals during the first quarter worth $140,000. Institutional investors and hedge funds own 62.84% of the company’s stock.

About HudBay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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