HudBay Minerals (NYSE:HBM) Downgraded to Hold Rating by Zacks Research

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

HBM has been the subject of a number of other reports. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. UBS Group initiated coverage on HudBay Minerals in a research note on Thursday, January 8th. They issued a “buy” rating on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $26.00.

HudBay Minerals Stock Down 0.9%

HBM opened at $24.96 on Tuesday. The firm has a market cap of $9.91 billion, a P/E ratio of 21.52 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The business has a 50 day moving average price of $22.60 and a 200 day moving average price of $17.27. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $28.74.

Institutional Investors Weigh In On HudBay Minerals

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its position in shares of HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock valued at $202,327,000 after purchasing an additional 5,468,109 shares during the period. Empowered Funds LLC boosted its holdings in HudBay Minerals by 104.7% during the fourth quarter. Empowered Funds LLC now owns 23,903 shares of the mining company’s stock valued at $474,000 after purchasing an additional 12,228 shares in the last quarter. Yaupon Capital Management LP grew its stake in shares of HudBay Minerals by 33.0% in the 4th quarter. Yaupon Capital Management LP now owns 1,051,553 shares of the mining company’s stock valued at $20,873,000 after purchasing an additional 261,148 shares during the period. Guardian Capital LP bought a new stake in shares of HudBay Minerals in the 4th quarter valued at approximately $11,965,000. Finally, Summit Securities Group LLC raised its holdings in shares of HudBay Minerals by 38.9% in the 4th quarter. Summit Securities Group LLC now owns 20,000 shares of the mining company’s stock worth $397,000 after buying an additional 5,600 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

About HudBay Minerals

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.