HudBay Minerals (NYSE:HBM) Lowered to Sector Perform Rating by National Bank Financial

National Bank Financial downgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from an outperform rating to a sector perform rating in a research report released on Thursday, Marketbeat Ratings reports.

Several other research firms have also weighed in on HBM. CIBC reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Zacks Research upgraded shares of HudBay Minerals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Monday. Bank of America boosted their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy” and a consensus target price of $27.00.

HudBay Minerals Stock Down 0.6%

HudBay Minerals stock opened at $26.91 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74. The company has a fifty day simple moving average of $20.24 and a 200 day simple moving average of $15.72. The company has a market cap of $10.68 billion, a P/E ratio of 23.20 and a beta of 1.36.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The company had revenue of $346.80 million during the quarter, compared to the consensus estimate of $538.16 million. During the same quarter in the previous year, the business earned $0.13 EPS. HudBay Minerals’s revenue was down 28.6% on a year-over-year basis. Research analysts anticipate that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GMT Capital Corp bought a new position in HudBay Minerals during the 2nd quarter worth $337,809,000. Vanguard Group Inc. grew its stake in shares of HudBay Minerals by 2.4% in the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after acquiring an additional 373,399 shares in the last quarter. L1 Capital Pty Ltd increased its position in HudBay Minerals by 4.4% during the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after acquiring an additional 630,703 shares during the period. Hancock Prospecting Pty Ltd acquired a new stake in HudBay Minerals in the 2nd quarter worth about $154,359,000. Finally, Invesco Ltd. raised its stake in HudBay Minerals by 0.4% in the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after purchasing an additional 46,948 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.