Hudbay Minerals (HBM) Lowered to Hold at Zacks Investment Research

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Saturday.

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. “

A number of other equities analysts have also recently weighed in on the stock. National Bank Financial cut shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Canaccord Genuity cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. ValuEngine cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, BMO Capital Markets increased their price objective on shares of Hudbay Minerals from $10.50 to $10.75 and gave the stock a “market perform” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.25.

Shares of Hudbay Minerals (NYSE:HBM) traded up $0.15 during midday trading on Friday, hitting $9.35. 2,002,301 shares of the stock were exchanged, compared to its average volume of 862,416. The firm has a market cap of $2,403.70, a P/E ratio of 133.57 and a beta of 3.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 1.33. Hudbay Minerals has a fifty-two week low of $4.60 and a fifty-two week high of $10.25.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, November 1st. The mining company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Hudbay Minerals had a net margin of 1.34% and a return on equity of 5.04%. equities research analysts forecast that Hudbay Minerals will post 0.52 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of HBM. Quantbot Technologies LP boosted its position in shares of Hudbay Minerals by 37.3% during the 2nd quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock worth $143,000 after purchasing an additional 6,769 shares during the period. Addenda Capital Inc. purchased a new position in Hudbay Minerals in the 4th quarter valued at approximately $172,000. Guardian Capital Advisors LP boosted its position in Hudbay Minerals by 73.6% in the 2nd quarter. Guardian Capital Advisors LP now owns 40,583 shares of the mining company’s stock valued at $336,000 after buying an additional 17,200 shares during the period. Cubist Systematic Strategies LLC boosted its position in Hudbay Minerals by 158.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 46,906 shares of the mining company’s stock valued at $348,000 after buying an additional 28,726 shares during the period. Finally, QS Investors LLC boosted its position in Hudbay Minerals by 12.5% in the 2nd quarter. QS Investors LLC now owns 63,100 shares of the mining company’s stock valued at $363,000 after buying an additional 7,000 shares during the period. 64.03% of the stock is 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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