HudBay Minerals (NYSE:HBM) Rating Lowered to Buy at Wall Street Zen

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also recently weighed in on HBM. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Zacks Research upgraded HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Finally, Veritas upgraded HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.50.

HudBay Minerals Stock Performance

HBM opened at $15.83 on Friday. The stock has a market cap of $6.27 billion, a PE ratio of 21.68 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $17.73. The stock’s 50 day simple moving average is $14.08 and its 200-day simple moving average is $10.77.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The business had revenue of $536.40 million for the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm’s quarterly revenue was up 26.1% on a year-over-year basis. Sell-side analysts forecast that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Trading of HudBay Minerals

A number of hedge funds have recently made changes to their positions in HBM. U S Global Investors Inc. lifted its position in shares of HudBay Minerals by 26.7% in the first quarter. U S Global Investors Inc. now owns 95,000 shares of the mining company’s stock valued at $721,000 after buying an additional 20,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of HudBay Minerals by 142.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company’s stock valued at $761,000 after buying an additional 58,999 shares during the last quarter. Waterfront Wealth Inc. acquired a new stake in shares of HudBay Minerals in the first quarter valued at approximately $321,000. Goehring & Rozencwajg Associates LLC lifted its position in shares of HudBay Minerals by 2.2% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 797,648 shares of the mining company’s stock valued at $6,628,000 after buying an additional 17,361 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of HudBay Minerals by 6.2% in the first quarter. Alps Advisors Inc. now owns 176,316 shares of the mining company’s stock valued at $1,338,000 after buying an additional 10,346 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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.