HudBay Minerals (NYSE:HBM) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

HudBay Minerals (NYSE:HBM) (TSE:HBM) issued its quarterly earnings data on Wednesday. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. The company had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.HudBay Minerals’s revenue was down 28.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share.

HudBay Minerals Stock Performance

HBM stock traded up $0.02 during midday trading on Friday, hitting $15.88. The company’s stock had a trading volume of 2,168,945 shares, compared to its average volume of 7,342,652. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 21.75 and a beta of 1.58. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $15.30 and its 200 day moving average price is $11.68. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $17.73.

Hedge Funds Weigh In On HudBay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise grew its position in HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the period. Jones Financial Companies Lllp boosted its stake in 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 acquiring an additional 3,733 shares during the last quarter. Quadrant Capital Group LLC bought a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $123,000. Cetera Investment Advisers grew its position in shares of HudBay Minerals by 27.4% during the 2nd quarter. Cetera Investment Advisers now owns 18,337 shares of the mining company’s stock valued at $195,000 after acquiring an additional 3,943 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $247,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBM has been the subject of a number of research analyst reports. Wall Street Zen lowered HudBay Minerals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. The Goldman Sachs Group initiated coverage on shares of HudBay Minerals in a report on Monday, September 8th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. Finally, Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, HudBay Minerals presently has a consensus rating of “Buy” and a consensus price target of $19.50.

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.