StockNews.com Upgrades Hudbay Minerals (NYSE:HBM) to “Buy”

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other equities analysts have also issued reports on HBM. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hudbay Minerals has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Trading Down 0.1 %

Shares of Hudbay Minerals stock traded down $0.01 on Friday, hitting $8.52. 2,600,431 shares of the company traded hands, compared to its average volume of 3,117,713. Hudbay Minerals has a 52 week low of $4.27 and a 52 week high of $10.49. The stock’s 50 day moving average price is $8.79 and its 200-day moving average price is $8.68. The company has a market cap of $3.35 billion, a PE ratio of 37.05 and a beta of 1.78. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC grew its position in Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the period. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 3.2% in the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after acquiring an additional 272,635 shares during the period. Bank of Montreal Can raised its holdings in Hudbay Minerals by 23.1% in the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after purchasing an additional 1,441,991 shares during the period. Condire Management LP increased its position in shares of Hudbay Minerals by 4.2% in the first quarter. Condire Management LP now owns 4,226,553 shares of the mining company’s stock valued at $29,586,000 after buying an additional 169,310 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its stake in Hudbay Minerals by 31.9% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after acquiring an additional 906,417 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.