Hudbay Minerals (HBM) Rating Lowered to Hold at Canaccord Genuity

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by research analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Monday, The Fly reports.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Hudbay Minerals from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. ValuEngine cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. BMO Capital Markets increased their price target 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. Finally, Credit Suisse Group increased their price target on shares of Hudbay Minerals from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.50.

Shares of Hudbay Minerals (HBM) opened at $9.35 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.74. The firm has a market capitalization of $2,442.89, a PE ratio of 133.57 and a beta of 3.17. Hudbay Minerals has a 52 week low of $4.60 and a 52 week high of $9.55.

A number of hedge funds and other institutional investors have recently modified their holdings of HBM. Systematic Financial Management LP lifted its holdings in Hudbay Minerals by 15.5% in the second quarter. Systematic Financial Management LP now owns 583,635 shares of the mining company’s stock worth $3,356,000 after acquiring an additional 78,395 shares during the last quarter. AXA lifted its holdings in Hudbay Minerals by 109.2% in the second quarter. AXA now owns 571,200 shares of the mining company’s stock worth $3,284,000 after acquiring an additional 298,200 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in Hudbay Minerals by 5.7% in the second quarter. Letko Brosseau & Associates Inc. now owns 27,363,164 shares of the mining company’s stock worth $158,022,000 after acquiring an additional 1,469,514 shares during the last quarter. Citigroup Inc. lifted its holdings in Hudbay Minerals by 540.2% in the second quarter. Citigroup Inc. now owns 140,322 shares of the mining company’s stock worth $810,000 after acquiring an additional 118,403 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Hudbay Minerals by 4.9% in the second quarter. Vanguard Group Inc. now owns 4,793,951 shares of the mining company’s stock worth $27,565,000 after acquiring an additional 224,085 shares during the last quarter. 64.03% of the stock is currently owned by hedge funds and other institutional investors.

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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.