HudBay Minerals (NYSE:HBM) Stock Gets Downgrade from Wall Street Zen

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

Several other equities analysts have also issued reports on HBM. Barclays reissued an “overweight” rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Bank of America dropped their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, HudBay Minerals currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Stock Up 0.8%

HudBay Minerals stock opened at $22.16 on Friday. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.40 and a beta of 1.58. The company’s 50 day simple moving average is $26.58 and its 200 day simple moving average is $24.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. HudBay Minerals has a fifty-two week low of $14.34 and a fifty-two week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that HudBay Minerals will post 1.40 EPS for the current year.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently made changes to their positions in HBM. Robeco Schweiz AG raised its stake in shares of HudBay Minerals by 2.5% in the 3rd quarter. Robeco Schweiz AG now owns 1,253,650 shares of the mining company’s stock valued at $33,447,000 after purchasing an additional 30,650 shares during the period. Signaturefd LLC grew its stake in shares of HudBay Minerals by 14.8% during the 3rd quarter. Signaturefd LLC now owns 40,112 shares of the mining company’s stock worth $1,070,000 after acquiring an additional 5,180 shares in the last quarter. Triasima Portfolio Management inc. grew its stake in shares of HudBay Minerals by 4.2% during the 3rd quarter. Triasima Portfolio Management inc. now owns 587,103 shares of the mining company’s stock worth $15,731,000 after acquiring an additional 23,556 shares in the last quarter. GK Wealth Management LLC acquired a new stake in HudBay Minerals in the 3rd quarter valued at $87,000. Finally, Acasta Partners UK LLP boosted its stake in shares of HudBay Minerals by 75.7% during the 3rd quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company’s stock worth $5,270,000 after buying an additional 85,000 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.