Hudbay Minerals (NYSE:HBM) Cut to “Sector Perform” at Scotiabank

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other equities research analysts have also recently weighed in on HBM. Barclays reissued an “average” rating and set a $8.00 price target on shares of Hudbay Minerals in a research report on Sunday, August 4th. Zacks Investment Research raised shares of Hudbay Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, October 18th. CIBC reissued a “hold” rating and set a $5.00 price target on shares of Hudbay Minerals in a research report on Friday, September 6th. Credit Suisse Group dropped their price target on shares of Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Finally, ValuEngine raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.55.

HBM traded down $0.32 during trading on Tuesday, hitting $3.34. 25,526 shares of the stock traded hands, compared to its average volume of 683,476. The firm has a market capitalization of $956.25 million, a P/E ratio of 8.71 and a beta of 3.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.31 and a quick ratio of 1.86. The firm has a 50-day moving average of $3.62 and a 200 day moving average of $4.43. Hudbay Minerals has a 12-month low of $2.99 and a 12-month high of $7.83.

Several large investors have recently bought and sold shares of HBM. D. E. Shaw & Co. Inc. increased its position in shares of Hudbay Minerals by 63.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 687,236 shares of the mining company’s stock worth $3,722,000 after acquiring an additional 268,000 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Hudbay Minerals by 29.2% during the 2nd quarter. Acadian Asset Management LLC now owns 765,590 shares of the mining company’s stock worth $4,153,000 after acquiring an additional 173,090 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Hudbay Minerals during the 2nd quarter worth about $162,000. Vanguard Group Inc. grew its holdings in Hudbay Minerals by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,371,000 shares of the mining company’s stock worth $34,468,000 after acquiring an additional 137,274 shares in the last quarter. Finally, Heathbridge Capital Management Ltd. grew its holdings in Hudbay Minerals by 4.9% during the 2nd quarter. Heathbridge Capital Management Ltd. now owns 5,112,715 shares of the mining company’s stock worth $27,698,000 after acquiring an additional 239,715 shares in the last quarter. 63.99% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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