BidaskClub Downgrades HudBay Minerals Inc (HBM) to Strong Sell
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. ValuEngine upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. TheStreet cut HudBay Minerals from a “c-” rating to a “d+” rating in a research note on Thursday, March 9th. Finally, Credit Suisse Group restated a “neutral” rating on shares of HudBay Minerals in a research note on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.06.
Shares of HudBay Minerals (NYSE HBM) traded down 4.08% during mid-day trading on Tuesday, hitting $4.70. The company’s stock had a trading volume of 612,815 shares. The company has a 50-day moving average of $5.36 and a 200 day moving average of $6.60. HudBay Minerals has a 1-year low of $3.57 and a 1-year high of $9.15. The company’s market cap is $1.12 billion.
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Several hedge funds and other institutional investors have recently made changes to their positions in HBM. Tower Research Capital LLC TRC boosted its position 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 last quarter. ICM Asset Management Inc. WA purchased a new position in shares of HudBay Minerals during the first quarter worth approximately $378,000. AQR Capital Management LLC boosted its position in shares of HudBay Minerals by 68.7% in the first quarter. AQR Capital Management LLC now owns 419,418 shares of the mining company’s stock worth $2,749,000 after buying an additional 170,774 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of HudBay Minerals during the first quarter worth approximately $255,000. Finally, Cambrian Capital Limited Partnership boosted its position in shares of HudBay Minerals by 7.5% in the first quarter. Cambrian Capital Limited Partnership now owns 219,950 shares of the mining company’s stock worth $1,441,000 after buying an additional 15,300 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.
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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