HudBay Minerals (NYSE:HBM) Stock Rating Lowered by Zacks Research

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

HBM has been the subject of a number of other reports. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Citigroup upped their price target on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $24.96 on Tuesday. The firm has a 50 day moving average of $22.60 and a 200-day moving average of $17.27. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 21.52 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. HudBay Minerals has a 52 week low of $5.95 and a 52 week high of $28.74.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HBM. Allworth Financial LP boosted its holdings in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP purchased a new stake in shares of HudBay Minerals in the third quarter valued at about $38,000. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals during the third quarter valued at about $45,000. IFP Advisors Inc purchased a new position in HudBay Minerals during the third quarter worth about $45,000. Finally, Banque Cantonale Vaudoise grew its position in HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.