Hudbay Minerals (HBM) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Other research analysts have also issued research reports about the company. ValuEngine upgraded Hudbay Minerals from a hold rating to a buy rating in a research report on Thursday, November 9th. BMO Capital Markets raised their price objective on Hudbay Minerals from $10.50 to $10.75 and gave the company a market perform rating in a research report on Monday, October 2nd. Credit Suisse Group raised their price objective on Hudbay Minerals from $11.00 to $12.00 and gave the company a neutral rating in a research report on Monday, September 11th. Finally, JPMorgan Chase & Co. upgraded Hudbay Minerals from a neutral rating to an overweight rating in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Hudbay Minerals presently has an average rating of Hold and a consensus price target of $10.50.

Shares of Hudbay Minerals (NYSE:HBM) traded up $0.30 during trading on Wednesday, hitting $9.45. The stock had a trading volume of 846,400 shares, compared to its average volume of 724,500. The stock has a market capitalization of $2,470.00, a price-to-earnings ratio of 157.50 and a beta of 3.17. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. Hudbay Minerals has a 52-week low of $4.60 and a 52-week high of $9.55.

Several institutional investors have recently modified their holdings of the company. Quantbot Technologies LP grew its position in Hudbay Minerals by 37.3% in the second quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock worth $143,000 after acquiring an additional 6,769 shares in the last quarter. Guardian Capital Advisors LP grew its position in Hudbay Minerals by 73.6% in the second quarter. Guardian Capital Advisors LP now owns 40,583 shares of the mining company’s stock worth $336,000 after acquiring an additional 17,200 shares in the last quarter. Advisors Asset Management Inc. grew its position in Hudbay Minerals by 13.3% in the second quarter. Advisors Asset Management Inc. now owns 59,518 shares of the mining company’s stock worth $342,000 after acquiring an additional 6,969 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Hudbay Minerals by 158.0% in the third quarter. Cubist Systematic Strategies LLC now owns 46,906 shares of the mining company’s stock worth $348,000 after acquiring an additional 28,726 shares in the last quarter. Finally, QS Investors LLC grew its position in Hudbay Minerals by 12.5% in the second quarter. QS Investors LLC now owns 63,100 shares of the mining company’s stock worth $363,000 after acquiring an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 64.03% of the company’s stock.

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About Hudbay Minerals

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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