Zacks Investment Research lowered shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
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. “
Other equities analysts have also recently issued research reports about the company. BidaskClub raised HudBay Minerals from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. ValuEngine raised HudBay Minerals from a hold rating to a buy rating in a research report on Thursday, May 11th. Credit Suisse Group reissued a neutral rating on shares of HudBay Minerals in a research report on Tuesday, April 18th. Finally, TheStreet cut HudBay Minerals from a c- rating to a d+ rating in a research report on Thursday, March 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. HudBay Minerals currently has a consensus rating of Hold and a consensus target price of $8.06.
HudBay Minerals (NYSE:HBM) traded up 3.51% during midday trading on Tuesday, hitting $5.90. The stock had a trading volume of 365,021 shares. HudBay Minerals has a 12-month low of $3.57 and a 12-month high of $9.15. The stock’s market cap is $1.40 billion. The company’s 50-day moving average price is $5.27 and its 200 day moving average price is $6.50.
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Large investors have recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in HudBay Minerals during the first quarter valued at $23,754,000. AGF Investments Inc. increased its position in shares of 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 valued at $13,445,000 after buying an additional 1,939,102 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of 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 valued at $12,350,000 after buying an additional 1,838,508 shares during the last quarter. Bank of Montreal Can increased its position in shares of 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 during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of HudBay Minerals during the fourth quarter valued at approximately $3,628,000. Institutional investors own 64.08% of the company’s stock.
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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