Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) was down 0.9% during mid-day trading on Wednesday . The stock traded as low as C$9.74 and last traded at C$9.89. Approximately 1,402,323 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 1,981,951 shares. The stock had previously closed at C$9.98.

A number of research firms recently weighed in on HBM. Scotiabank reissued a “focus stock” rating and issued a C$11.00 target price on shares of Hudbay Minerals in a research note on Friday, August 4th. CIBC reissued an “outperform” rating and issued a C$13.00 target price on shares of Hudbay Minerals in a research note on Tuesday, October 10th. National Bank Financial cut shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$11.25 to C$13.00 in a research note on Wednesday, October 18th. Eight Capital reissued a “buy” rating on shares of Hudbay Minerals in a research note on Thursday, August 17th. Finally, BMO Capital Markets lifted their price objective on shares of Hudbay Minerals from C$10.50 to C$10.75 and gave the stock a “market perform” rating in a research note on Monday, October 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Hudbay Minerals currently has a consensus rating of “Buy” and a consensus target price of C$12.09.

In other news, insider Gmt Capital Corp purchased 6,700 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of C$7.68 per share, with a total value of C$51,456.00. Insiders have bought a total of 52,200 shares of company stock worth $394,265 in the last three months.

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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.

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