HudBay Minerals (NYSE:HBM) Stock Rating Lowered by Wall Street Zen

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Bank of America lifted their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Veritas upgraded HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. Finally, Zacks Research raised HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Three research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $19.50.

HudBay Minerals Stock Performance

NYSE:HBM opened at $15.83 on Friday. The stock’s 50-day moving average is $14.08 and its 200-day moving average is $10.83. 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 stock has a market cap of $6.27 billion, a P/E ratio of 21.68 and a beta of 1.55.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. Equities research analysts anticipate that HudBay Minerals will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On HudBay Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $45,000. SBI Securities Co. Ltd. boosted its stake in HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in HudBay Minerals during the first quarter worth $33,000. Jones Financial Companies Lllp grew its holdings 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 worth $50,000 after purchasing an additional 3,733 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in HudBay Minerals in the second quarter valued at $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.