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Hudbay Minerals (NYSE:HBM) Rating Increased to Buy at StockNews.com

Hudbay Minerals logo with Basic Materials background

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

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

Get Our Latest Research Report on HBM

Hudbay Minerals Trading Down 0.1 %

HBM stock traded down $0.01 on Friday, reaching $8.52. The company's stock had a trading volume of 2,600,431 shares, compared to its average volume of 3,117,713. The business has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $8.68. Hudbay Minerals has a 12-month low of $4.27 and a 12-month high of $10.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The firm has a market cap of $3.35 billion, a PE ratio of 37.05 and a beta of 1.78.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwest & Ethical Investments L.P. raised its position in Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company's stock valued at $1,815,000 after purchasing an additional 1,487 shares in the last quarter. Van ECK Associates Corp boosted its stake in Hudbay Minerals by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company's stock worth $4,213,000 after purchasing an additional 1,960 shares in the last quarter. MQS Management LLC grew its stake in Hudbay Minerals by 8.2% during the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company's stock valued at $315,000 after purchasing an additional 2,592 shares during the last quarter. FMR LLC boosted its holdings in shares of Hudbay Minerals by 0.7% in the 3rd quarter. FMR LLC now owns 354,392 shares of the mining company's stock valued at $3,260,000 after acquiring an additional 2,624 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hudbay Minerals by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company's stock valued at $674,000 after buying an additional 2,905 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

About Hudbay Minerals

(Get Free Report)

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.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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