HudBay Minerals (NYSE:HBM) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Other analysts have also issued research reports about the company. Citigroup increased their price objective on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, HudBay Minerals presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

HudBay Minerals Stock Up 0.1%

Shares of HBM opened at $24.35 on Friday. The firm has a market cap of $9.66 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.33 and a beta of 1.41. The stock has a 50 day simple moving average of $23.30 and a two-hundred day simple moving average of $20.08. 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 $6.63 and a 1 year high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). The firm 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%.The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. On average, analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were issued a dividend of $0.01 per share. This represents a dividend yield of 9.0%. The ex-dividend date was Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is currently 0.70%.

Hedge Funds Weigh In On HudBay Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in HBM. Jones Financial Companies Lllp raised its holdings in shares of HudBay Minerals by 131.6% during 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after purchasing an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after purchasing an additional 27,944 shares in the last quarter. Geode Capital Management LLC raised its holdings in HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock worth $2,363,000 after purchasing an additional 15,235 shares in the last quarter. Finally, Creative Planning raised its holdings in HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares in 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.