HudBay Minerals Inc (HBM) Given Average Recommendation of “Hold” by Brokerages
Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have received an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.00.
A number of research analysts have weighed in on the company. Credit Suisse Group reissued a “neutral” rating on shares of HudBay Minerals in a research note on Tuesday, April 18th. Zacks Investment Research lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. ValuEngine lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. TheStreet raised HudBay Minerals from a “d” rating to a “c-” rating in a research note on Tuesday, February 21st. Finally, BidaskClub raised HudBay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th.
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Several hedge funds have recently added to or reduced their stakes in HBM. FMR LLC purchased a new stake in HudBay Minerals during the first quarter worth approximately $23,754,000. AGF Investments Inc. increased its stake in HudBay Minerals by 1,778.1% in the first quarter. AGF Investments Inc. now owns 2,048,158 shares of the mining company’s stock worth $13,445,000 after buying an additional 1,939,102 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in HudBay Minerals by 4,386.1% in the first quarter. Great West Life Assurance Co. Can now owns 1,880,425 shares of the mining company’s stock worth $12,350,000 after buying an additional 1,838,508 shares during the last quarter. Bank of Montreal Can increased its stake 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 worth $23,154,000 after buying an additional 813,675 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in HudBay Minerals during the fourth quarter worth approximately $4,342,000. Institutional investors and hedge funds own 64.08% of the company’s stock.
HudBay Minerals (NYSE HBM) traded up 1.2866% during midday trading on Monday, reaching $4.9124. The company’s stock had a trading volume of 189,342 shares. The stock’s market capitalization is $1.17 billion. The firm’s 50-day moving average price is $5.39 and its 200-day moving average price is $6.61. HudBay Minerals has a 52 week low of $3.57 and a 52 week high of $9.15.
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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