Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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. “
HBM has been the subject of several other reports. BMO Capital Markets upped their price objective on Hudbay Minerals from $10.50 to $10.75 and gave the stock a “market perform” rating in a research note on Monday, October 2nd. ValuEngine lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Canaccord Genuity downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Hudbay Minerals has an average rating of “Hold” and a consensus target price of $10.50.
Institutional investors have recently modified their holdings of the stock. Addenda Capital Inc. bought a new position in Hudbay Minerals in the 4th quarter worth $172,000. Quantbot Technologies LP boosted its holdings in Hudbay Minerals by 37.3% in the 2nd quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock worth $143,000 after buying an additional 6,769 shares during the period. Guardian Capital Advisors LP boosted its holdings in Hudbay Minerals by 73.6% in the 2nd quarter. Guardian Capital Advisors LP now owns 40,583 shares of the mining company’s stock worth $336,000 after buying an additional 17,200 shares during the period. Schroder Investment Management Group bought a new position in Hudbay Minerals in the 3rd quarter worth $429,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Hudbay Minerals by 158.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 46,906 shares of the mining company’s stock worth $348,000 after buying an additional 28,726 shares during the period. 64.03% of the stock is owned by 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.
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