Hudbay Minerals Inc (HBM) Given Consensus Recommendation of “Hold” by Brokerages
Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.00.
A number of research firms have weighed in on HBM. Zacks Investment Research raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating and set a $8.00 price objective on the stock in a report on Monday, January 23rd. BMO Capital Markets began coverage on Hudbay Minerals in a report on Thursday, February 2nd. They set a “market perform” rating on the stock. TheStreet raised Hudbay Minerals from a “d” rating to a “c-” rating in a report on Tuesday, February 21st. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Hudbay Minerals in a report on Tuesday, April 18th. Finally, ValuEngine raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Thursday, May 11th.
Hudbay Minerals (NYSE:HBM) traded down 1.80% on Tuesday, reaching $5.45. The company’s stock had a trading volume of 347,310 shares. Hudbay Minerals has a 52 week low of $3.57 and a 52 week high of $9.15. The stock’s 50 day moving average is $5.97 and its 200-day moving average is $6.72. The firm’s market capitalization is $1.29 billion.
A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. Letko Brosseau & Associates Inc. increased its position in Hudbay Minerals by 0.9% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 26,275,969 shares of the mining company’s stock valued at $150,294,000 after buying an additional 228,275 shares in the last quarter. TD Asset Management Inc. increased its position in Hudbay Minerals by 3.7% in the first quarter. TD Asset Management Inc. now owns 6,185,270 shares of the mining company’s stock valued at $40,535,000 after buying an additional 217,949 shares in the last quarter. Vanguard Group Inc. increased its position in Hudbay Minerals by 6.4% in the first quarter. Vanguard Group Inc. now owns 4,569,866 shares of the mining company’s stock valued at $29,933,000 after buying an additional 276,040 shares in the last quarter. FMR LLC purchased a new position in Hudbay Minerals during the first quarter valued at about $23,754,000. Finally, Bank of Montreal Can increased its position in Hudbay Minerals by 29.9% in the first quarter. Bank of Montreal Can now owns 3,534,946 shares of the mining company’s stock valued at $23,154,000 after buying an additional 813,675 shares in the last quarter. 59.61% of the stock is currently owned by hedge funds and other institutional investors.
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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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