HudBay Minerals (NYSE:HBM) Downgraded by Natl Bk Canada to “Hold”

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by research analysts at Natl Bk Canada from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on HBM. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Zacks Research raised HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Bank of America boosted their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Citigroup set a $34.50 price objective on shares of HudBay Minerals and gave the stock a “buy” rating in a report on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, HudBay Minerals presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

HudBay Minerals Stock Performance

Shares of HBM opened at $26.91 on Wednesday. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $28.74. The stock has a market capitalization of $10.68 billion, a PE ratio of 23.20 and a beta of 1.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The stock has a 50-day simple moving average of $20.24 and a 200-day simple moving average of $15.72.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The firm had revenue of $346.80 million during the quarter, compared to analyst estimates of $538.16 million. During the same period last year, the business earned $0.13 EPS. The firm’s revenue was down 28.6% compared to the same quarter last year. On average, analysts predict that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of HudBay Minerals

A number of large investors have recently bought and sold shares of HBM. Waterfront Wealth Inc. increased its stake in HudBay Minerals by 1.0% in the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock valued at $783,000 after purchasing an additional 399 shares during the period. Strong Tower Advisory Services grew its holdings in shares of HudBay Minerals by 0.6% during the fourth quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after buying an additional 587 shares during the last quarter. Savant Capital LLC increased its position in HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after acquiring an additional 760 shares during the period. Allworth Financial LP raised its stake in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Creative Planning lifted its position in HudBay Minerals by 5.4% during the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after acquiring an additional 1,289 shares during the period. Institutional investors and hedge funds 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.