HudBay Minerals (NYSE:HBM) Downgraded by Wall Street Zen to Hold

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Finally, Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Trading Up 1.0%

HudBay Minerals stock opened at $28.32 on Friday. HudBay Minerals has a one year low of $5.95 and a one year high of $28.74. The business’s fifty day moving average is $23.71 and its 200 day moving average is $18.12. The stock has a market capitalization of $11.24 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.71 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.76.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). The company had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. HudBay Minerals’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. On average, sell-side analysts predict that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Trading of HudBay Minerals

Institutional investors and hedge funds have recently modified their holdings of the company. Triasima Portfolio Management inc. bought a new stake in shares of HudBay Minerals in the 3rd quarter worth about $8,057,000. Campbell & CO Investment Adviser LLC bought a new position in HudBay Minerals during the 3rd quarter valued at about $1,454,000. L1 Capital Pty Ltd raised its position in HudBay Minerals by 4.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after purchasing an additional 630,703 shares during the period. Precision Wealth Strategies LLC bought a new stake in HudBay Minerals in the third quarter worth about $855,000. Finally, Franklin Resources Inc. lifted its stake in HudBay Minerals by 7.9% in the second quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock worth $8,844,000 after purchasing an additional 60,942 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.