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

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

A number of other equities research analysts also recently issued reports on the stock. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research 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.com, the company presently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM stock traded down $0.01 during trading hours on Friday, reaching $8.52. The company had a trading volume of 2,600,431 shares, compared to its average volume of 3,117,713. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. Hudbay Minerals has a one year low of $4.27 and a one year high of $10.49. The firm has a market cap of $3.35 billion, a PE ratio of 37.05 and a beta of 1.78. The business has a fifty day moving average price of $8.79 and a 200-day moving average price of $8.68.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently modified their holdings of the stock. Prospera Private Wealth LLC bought a new stake in shares of Hudbay Minerals in the third quarter worth about $28,000. Exchange Traded Concepts LLC purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth $53,000. Clear Harbor Asset Management LLC bought a new stake in shares of Hudbay Minerals in the 3rd quarter valued at approximately $92,000. Ritholtz Wealth Management bought a new stake in Hudbay Minerals in the second quarter worth $96,000. Finally, Armistice Capital LLC bought a new stake in shares of Hudbay Minerals in the 2nd quarter worth about $97,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

About Hudbay Minerals

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.