Zacks Investment Research upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a sell rating to a hold rating in a research note published on Friday morning.
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. “
A number of other equities analysts have also weighed in on HBM. Canaccord Genuity lowered Hudbay Minerals from a buy rating to a hold rating in a research note on Monday, January 8th. ValuEngine lowered Hudbay Minerals from a buy rating to a hold rating in a research note on Wednesday, November 15th. Finally, BMO Capital Markets increased their target price on Hudbay Minerals from $10.50 to $10.75 and gave the stock a market perform rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Hudbay Minerals has an average rating of Hold and an average target price of $10.50.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP increased its stake in Hudbay Minerals by 37.3% during the 2nd quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock worth $143,000 after acquiring an additional 6,769 shares during the period. Addenda Capital Inc. bought a new position in Hudbay Minerals during the 4th quarter worth $172,000. Guardian Capital Advisors LP increased its stake in Hudbay Minerals by 73.6% during the 2nd quarter. Guardian Capital Advisors LP now owns 40,583 shares of the mining company’s stock worth $336,000 after acquiring an additional 17,200 shares during the period. Cubist Systematic Strategies LLC increased its stake in Hudbay Minerals by 158.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 46,906 shares of the mining company’s stock worth $348,000 after acquiring an additional 28,726 shares during the period. Finally, QS Investors LLC increased its stake in Hudbay Minerals by 12.5% during the 2nd quarter. QS Investors LLC now owns 63,100 shares of the mining company’s stock worth $363,000 after acquiring an additional 7,000 shares during the period. Institutional investors own 64.03% of the company’s stock.
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Hudbay Minerals Company Profile
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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