HudBay Minerals (NYSE:HBM) Stock Rating Lowered by 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 report released on Saturday.

Several other equities research analysts also recently weighed in on HBM. Barclays increased their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Bank of America decreased their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Eleven 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Trading Down 0.1%

Shares of HudBay Minerals stock opened at $22.73 on Friday. HudBay Minerals has a twelve month low of $9.01 and a twelve month high of $32.15. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $24.65 and a 200-day moving average price of $24.14. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.35 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $632.43 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. HudBay Minerals’s quarterly revenue was up 17.7% on a year-over-year basis. Equities research analysts anticipate that HudBay Minerals will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ausbil Investment Management Ltd bought a new position in HudBay Minerals in the 2nd quarter worth about $342,000. Wealthcare Advisory Partners LLC raised its position in HudBay Minerals by 2.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock valued at $892,000 after purchasing an additional 992 shares in the last quarter. Acasta Partners UK LLP raised its position in HudBay Minerals by 9.4% during the 2nd quarter. Acasta Partners UK LLP now owns 112,352 shares of the mining company’s stock valued at $2,651,000 after purchasing an additional 9,652 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of HudBay Minerals by 53.1% in the 1st quarter. Empowered Funds LLC now owns 36,598 shares of the mining company’s stock worth $765,000 after buying an additional 12,695 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of HudBay Minerals by 5,677.7% in the 1st quarter. NewEdge Advisors LLC now owns 27,502 shares of the mining company’s stock worth $575,000 after buying an additional 27,026 shares during the period. Institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

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.