Hudbay Minerals (HBM) Downgraded to Hold at Canaccord Genuity

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other equities research analysts have also commented on HBM. Credit Suisse Group boosted their price objective on shares of Hudbay Minerals from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, September 11th. BMO Capital Markets boosted their price objective on shares of Hudbay Minerals from $10.50 to $10.75 and gave the stock a “market perform” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Monday, October 23rd. Finally, ValuEngine upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Hudbay Minerals currently has an average rating of “Hold” and a consensus price target of $10.50.

Hudbay Minerals (NYSE HBM) traded down $0.40 during trading hours on Monday, reaching $9.00. 1,002,200 shares of the company traded hands, compared to its average volume of 787,250. Hudbay Minerals has a 1-year low of $4.60 and a 1-year high of $9.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 1.33. The company has a market capitalization of $2,350.00, a price-to-earnings ratio of 150.00 and a beta of 3.17.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Nova Scotia lifted its stake in shares of Hudbay Minerals by 4.5% in the second quarter. Bank of Nova Scotia now owns 67,126 shares of the mining company’s stock worth $388,000 after buying an additional 2,894 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Hudbay Minerals by 37.3% in the second quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock worth $143,000 after buying an additional 6,769 shares in the last quarter. QS Investors LLC lifted its stake in shares of Hudbay Minerals by 12.5% in the second quarter. QS Investors LLC now owns 63,100 shares of the mining company’s stock worth $363,000 after buying an additional 7,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Hudbay Minerals by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 135,253 shares of the mining company’s stock worth $1,008,000 after buying an additional 7,194 shares in the last quarter. Finally, Guardian Capital Advisors LP lifted its stake in shares of Hudbay Minerals by 73.6% in the second quarter. Guardian Capital Advisors LP now owns 40,583 shares of the mining company’s stock worth $336,000 after buying an additional 17,200 shares in the last quarter. Hedge funds and other institutional investors own 64.03% of the company’s stock.

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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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