HudBay Minerals (NYSE:HBM) Lowered to “Hold” Rating by Zacks Research

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on HBM. The Goldman Sachs Group started coverage on HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating for the company. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Finally, National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $19.50.

HudBay Minerals Stock Performance

NYSE:HBM opened at $17.04 on Tuesday. The firm has a market capitalization of $6.75 billion, a PE ratio of 23.35 and a beta of 1.58. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $17.73. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $11.65.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $346.80 million for the quarter, compared to analyst estimates of $538.16 million. During the same period in the prior year, the firm earned $0.13 EPS. The firm’s revenue was down 28.6% on a year-over-year basis. On average, sell-side analysts anticipate that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HBM. SBI Securities Co. Ltd. raised its position in HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in HudBay Minerals in the 1st quarter valued at about $33,000. Global Retirement Partners LLC acquired a new position in shares of HudBay Minerals during the third quarter worth approximately $45,000. Jones Financial Companies Lllp increased its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new position in HudBay Minerals in the 2nd quarter worth approximately $84,000. 57.82% of the stock is owned by institutional investors and hedge funds.

About HudBay Minerals

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.