HudBay Minerals (NYSE:HBM) Announces Earnings Results, Misses Expectations By $0.08 EPS

HudBay Minerals (NYSE:HBM) (TSE:HBM) announced its earnings results on Friday. The mining company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.08), Zacks reports. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.During the same quarter last year, the company earned $0.18 EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis.

HudBay Minerals Stock Down 3.6%

Shares of NYSE:HBM traded down $0.89 during midday trading on Friday, reaching $23.85. The company had a trading volume of 3,806,820 shares, compared to its average volume of 6,364,480. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $22.72 and its 200 day moving average price is $17.32. The stock has a market cap of $9.47 billion, a PE ratio of 20.58 and a beta of 1.33. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Finally, Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $26.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. FIL Ltd boosted its holdings in shares of HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after buying an additional 22,169,339 shares during the last quarter. Invesco Ltd. raised its position in HudBay Minerals by 0.4% during the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after acquiring an additional 46,948 shares in the last quarter. Mackenzie Financial Corp lifted its stake in HudBay Minerals by 116.1% in the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock valued at $202,327,000 after acquiring an additional 5,468,109 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of HudBay Minerals in the 3rd quarter valued at about $123,736,000. Finally, Bank of Nova Scotia increased its stake in shares of HudBay Minerals by 79.2% during the 4th quarter. Bank of Nova Scotia now owns 7,659,783 shares of the mining company’s stock worth $152,047,000 after purchasing an additional 3,386,399 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.