ValuEngine downgraded shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

A number of other research firms have also issued reports on HBM. BidaskClub upgraded shares of HudBay Minerals from a strong sell rating to a sell rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of HudBay Minerals from a hold rating to a sell rating in a report on Tuesday, July 4th. Finally, Credit Suisse Group restated a neutral rating on shares of HudBay Minerals in a report on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. HudBay Minerals currently has a consensus rating of Hold and a consensus target price of $8.06.

Shares of HudBay Minerals (HBM) traded up 2.68% during mid-day trading on Tuesday, reaching $7.65. 560,828 shares of the company were exchanged. HudBay Minerals has a 12 month low of $3.57 and a 12 month high of $9.15. The company’s 50 day moving average price is $6.02 and its 200 day moving average price is $6.57. The firm’s market capitalization is $1.82 billion.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. bought a new position in HudBay Minerals during the second quarter valued at $121,000. Spark Investment Management LLC bought a new position in HudBay Minerals during the second quarter valued at $1,365,000. ICM Asset Management Inc. WA raised its position in HudBay Minerals by 143.5% in the second quarter. ICM Asset Management Inc. WA now owns 140,515 shares of the mining company’s stock valued at $808,000 after buying an additional 82,800 shares in the last quarter. Russell Investments Group Ltd. raised its position in HudBay Minerals by 0.7% in the second quarter. Russell Investments Group Ltd. now owns 653,800 shares of the mining company’s stock valued at $3,771,000 after buying an additional 4,700 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in HudBay Minerals by 862.4% in the first quarter. Tower Research Capital LLC TRC now owns 24,801 shares of the mining company’s stock valued at $163,000 after buying an additional 22,224 shares in the last quarter. Hedge funds and other institutional investors own 63.94% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for HudBay Minerals (NYSE:HBM)

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