HudBay Minerals (NYSE:HBM) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a research report report published on Sunday morning.

HBM has been the subject of several other reports. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, HudBay Minerals presently has an average rating of “Buy” and an average price target of $26.00.

HudBay Minerals Stock Down 6.8%

HBM stock opened at $24.93 on Friday. The stock has a market capitalization of $9.89 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74. The business has a fifty day moving average price of $23.95 and a 200-day moving average price of $18.37.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.HudBay Minerals’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. Equities analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a yield of 8.0%. HudBay Minerals’s payout ratio is 0.70%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Triasima Portfolio Management inc. purchased a new position in shares of HudBay Minerals in the 3rd quarter worth $8,057,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $1,454,000. L1 Capital Pty Ltd lifted its holdings in shares of 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 valued at $159,864,000 after acquiring an additional 630,703 shares during the last quarter. Precision Wealth Strategies LLC purchased a new position in HudBay Minerals in the third quarter worth about $855,000. Finally, Franklin Resources Inc. increased its stake in HudBay Minerals by 7.9% during the second quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock worth $8,844,000 after acquiring an additional 60,942 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

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.