HudBay Minerals (NYSE:HBM) Cut to Hold at Zacks Research

Zacks Research cut shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other brokerages have also commented on HBM. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $26.00.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $24.67 on Tuesday. HudBay Minerals has a 52 week low of $5.95 and a 52 week high of $28.74. The stock has a fifty day moving average price of $22.72 and a 200 day moving average price of $17.32. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.79 billion, a P/E ratio of 21.26 and a beta of 1.33.

Hedge Funds Weigh In On HudBay Minerals

A number of large investors have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares during the period. Quarry LP bought a new stake in HudBay Minerals during the 3rd quarter valued at approximately $38,000. Global Retirement Partners LLC bought a new position in HudBay Minerals in the 3rd quarter valued at approximately $45,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals in the 3rd quarter worth $45,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,655 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.