HudBay Minerals Inc (HBM) Rating Lowered to Strong Sell at Zacks Investment Research
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday.
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. “
Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded HudBay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. ValuEngine upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Finally, Credit Suisse Group restated a “neutral” rating on shares of HudBay Minerals in a research report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.06.
HudBay Minerals (NYSE:HBM) opened at 6.85 on Tuesday. The firm has a 50-day moving average price of $5.58 and a 200 day moving average price of $6.53. The company’s market cap is $1.63 billion. HudBay Minerals has a 12 month low of $3.57 and a 12 month high of $9.15.
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Several hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of HudBay Minerals by 862.4% in the first quarter. Tower Research Capital LLC TRC now owns 24,801 shares of the mining company’s stock worth $163,000 after buying an additional 22,224 shares during the period. ICM Asset Management Inc. WA bought a new stake in HudBay Minerals during the first quarter valued at approximately $378,000. AQR Capital Management LLC increased its stake in HudBay Minerals by 68.7% in the first quarter. AQR Capital Management LLC now owns 419,418 shares of the mining company’s stock valued at $2,749,000 after buying an additional 170,774 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in HudBay Minerals during the first quarter valued at approximately $255,000. Finally, Cambrian Capital Limited Partnership increased its stake in HudBay Minerals by 7.5% in the first quarter. Cambrian Capital Limited Partnership now owns 219,950 shares of the mining company’s stock valued at $1,441,000 after buying an additional 15,300 shares in the last quarter. 64.03% of the stock is owned by hedge funds and other institutional investors.
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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