Hudbay Minerals (NYSE:HBM) Rating Increased to Buy at StockNews.com

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other brokerages have also issued reports on HBM. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Trading Down 0.1 %

HBM stock traded down $0.01 on Friday, reaching $8.52. The company’s stock had a trading volume of 2,600,431 shares, compared to its average volume of 3,117,713. The business has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $8.68. Hudbay Minerals has a 12-month low of $4.27 and a 12-month high of $10.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The firm has a market cap of $3.35 billion, a PE ratio of 37.05 and a beta of 1.78.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwest & Ethical Investments L.P. raised its position in Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock valued at $1,815,000 after purchasing an additional 1,487 shares in the last quarter. Van ECK Associates Corp boosted its stake in Hudbay Minerals by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after purchasing an additional 1,960 shares in the last quarter. MQS Management LLC grew its stake in Hudbay Minerals by 8.2% during the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock valued at $315,000 after purchasing an additional 2,592 shares during the last quarter. FMR LLC boosted its holdings in shares of Hudbay Minerals by 0.7% in the 3rd quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after acquiring an additional 2,624 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hudbay Minerals by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after buying an additional 2,905 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.