Zacks Investment Research upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a sell rating to a hold rating in a 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. “
Several other equities research analysts also recently commented on the stock. Canaccord Genuity downgraded shares of Hudbay Minerals from a buy rating to a hold rating in a research report on Monday, January 8th. ValuEngine downgraded shares of Hudbay Minerals from a buy rating to a hold rating in a research report on Wednesday, November 15th. Finally, BMO Capital Markets upped their price target on shares of Hudbay Minerals from $10.50 to $10.75 and gave the company a market perform rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Hudbay Minerals has an average rating of Hold and a consensus price target of $10.50.
Shares of Hudbay Minerals (NYSE:HBM) traded down $0.05 during trading hours on Friday, hitting $9.70. 1,060,500 shares of the company traded hands, compared to its average volume of 941,411. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2,530.00, a P/E ratio of 161.67 and a beta of 3.17. Hudbay Minerals has a fifty-two week low of $4.60 and a fifty-two week high of $9.95.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 1st. The mining company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Hudbay Minerals had a net margin of 1.34% and a return on equity of 5.04%. sell-side analysts predict that Hudbay Minerals will post 0.5 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Hudbay Minerals by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,793,951 shares of the mining company’s stock valued at $27,565,000 after buying an additional 224,085 shares during the period. The Manufacturers Life Insurance Company increased its stake in Hudbay Minerals by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,884,880 shares of the mining company’s stock valued at $16,655,000 after buying an additional 83,094 shares during the period. AXA increased its stake in Hudbay Minerals by 109.2% in the 2nd quarter. AXA now owns 571,200 shares of the mining company’s stock valued at $3,284,000 after buying an additional 298,200 shares during the period. Barometer Capital Management Inc. acquired a new position in Hudbay Minerals in the 3rd quarter valued at approximately $7,010,000. Finally, Schroder Investment Management Group acquired a new position in Hudbay Minerals in the 3rd quarter valued at approximately $429,000. Hedge funds and other institutional investors own 64.03% of the company’s stock.
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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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