HudBay Minerals (HBM) Downgraded by ValuEngine to “Hold”

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday, November 15th.

Several other research firms have also recently commented on HBM. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, August 15th. Zacks Investment Research lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Credit Suisse Group increased their price target on HudBay Minerals from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, September 11th. BMO Capital Markets increased their price target on HudBay Minerals from $10.50 to $10.75 and gave the company a “market perform” rating in a research note on Monday, October 2nd. Finally, J P Morgan Chase & Co raised HudBay Minerals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.06.

HudBay Minerals (NYSE:HBM) traded up $0.10 on Wednesday, reaching $7.50. The company had a trading volume of 510,176 shares, compared to its average volume of 702,887. HudBay Minerals has a 12-month low of $4.60 and a 12-month high of $9.35. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1,933.41, a PE ratio of 19.47 and a beta of 3.17.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guardian Capital LP purchased a new stake in shares of HudBay Minerals in the third quarter valued at $1,444,000. Cubist Systematic Strategies LLC lifted its holdings in shares of HudBay Minerals by 158.0% in the third quarter. Cubist Systematic Strategies LLC now owns 46,906 shares of the mining company’s stock valued at $348,000 after purchasing an additional 28,726 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of HudBay Minerals in the third quarter valued at $1,484,000. Royce & Associates LP purchased a new stake in shares of HudBay Minerals in the third quarter valued at $954,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of HudBay Minerals by 1.2% in the third quarter. Allianz Asset Management GmbH now owns 3,284,726 shares of the mining company’s stock valued at $24,294,000 after purchasing an additional 39,361 shares in the last quarter. 64.04% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for HudBay Minerals (NYSE:HBM)

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