Hudbay Minerals (NYSE:HBM) Downgraded by StockNews.com

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

Several other brokerages also recently commented on HBM. Jefferies Financial Group increased their price objective on shares of Hudbay Minerals from $13.00 to $14.00 and gave the company a hold rating in a research note on Friday, July 12th. National Bank Financial raised shares of Hudbay Minerals from a hold rating to a strong-buy rating in a research note on Tuesday, May 14th. Finally, Stifel Canada raised shares of Hudbay Minerals to a strong-buy rating in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of Buy and an average target price of $10.36.

Hudbay Minerals Stock Performance

NYSE HBM opened at $7.73 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 33.61 and a beta of 1.83. The firm’s 50 day simple moving average is $8.46 and its 200 day simple moving average is $7.77. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. The business had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. As a group, research analysts expect that Hudbay Minerals will post 0.59 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date is Tuesday, September 3rd. Hudbay Minerals’s payout ratio is currently 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Several large investors have recently modified their holdings of the business. Letko Brosseau & Associates Inc. raised its stake in shares of Hudbay Minerals by 0.7% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock valued at $91,609,000 after acquiring an additional 114,266 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after acquiring an additional 272,635 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Hudbay Minerals by 33.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock valued at $27,604,000 after acquiring an additional 1,266,717 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Hudbay Minerals by 475.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock worth $25,407,000 after buying an additional 3,802,687 shares during the last quarter. Finally, Condire Management LP raised its stake in Hudbay Minerals by 4.2% during the first quarter. Condire Management LP now owns 4,226,553 shares of the mining company’s stock worth $29,586,000 after buying an additional 169,310 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Company Profile

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.