• National Bank downgraded Hudbay Minerals Inc. (NYSE:HBM) from "Outperform" to "Sector Perform".
• Institutional investors like Addenda Capital Inc. and Whalen Wealth Management Inc. initiated new positions, showing confidence in Hudbay's potential.
• The stock price of Hudbay Minerals is currently at $27.08, with a significant increase from its lowest price of $5.95 over the past year.

Hudbay Minerals Inc. (NYSE:HBM) is a Canadian mining company that focuses on the production of base and precious metals. The company operates mines, concentrators, and metal production facilities in North and South America. Hudbay's primary products include copper, zinc, and gold. The company competes with other mining giants like Teck Resources and First Quantum Minerals in the global market.

On January 28, 2026, National Bank downgraded Hudbay Minerals from an "Outperform" rating to a "Sector Perform" rating, indicating a more cautious outlook on the stock. At the time, HBM was priced at $27.08. Despite this downgrade, institutional investors like Addenda Capital Inc. and Whalen Wealth Management Inc. have shown interest in Hudbay by initiating new positions, purchasing 14,030 and 15,098 shares, respectively.

Addenda Capital's investment in Hudbay Minerals, valued at approximately $382,320, and Whalen Wealth Management's acquisition, valued at around $299,700, suggest a positive sentiment among institutional investors. Additionally, AdvisorNet Financial, Inc. increased its stake by 14.63%, adding 132 shares to hold a total of 1,034 shares, valued at approximately $20,530. These moves indicate confidence in Hudbay's potential despite the recent downgrade.

The stock for HBM is currently priced at $27.08, reflecting a 3.20% increase with a change of $0.84. The stock has fluctuated between a low of $26.18 and a high of $27.095 today, with the latter marking its highest price in the past year. Over the past year, the stock's lowest price was $5.95, showcasing significant growth.

Hudbay Minerals has a market capitalization of approximately $10.73 billion, indicating its substantial presence in the mining industry. The trading volume for the day is 8,903,219 shares on the NYSE, reflecting active investor interest. Despite the downgrade, the stock's performance and institutional investments suggest a complex outlook for Hudbay Minerals.