HudBay Minerals Inc. (HBM) Downgraded to “Sell” at Zacks Investment Research
HudBay Minerals Inc. (NYSE:HBM) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “
Several other analysts have also recently commented on the company. BMO Capital Markets upgraded HudBay Minerals from a “market perform” rating to an “outperform” rating and set a $7.00 target price on the stock in a report on Thursday, September 29th. Scotiabank reiterated an “outperform” rating and issued a $7.50 target price (down from $8.00) on shares of HudBay Minerals in a report on Monday, September 19th. TD Securities reiterated a “hold” rating and issued a $7.50 target price on shares of HudBay Minerals in a report on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $8.00 target price (up from $7.50) on shares of HudBay Minerals in a report on Wednesday, August 3rd. Finally, Barclays PLC reiterated an “underweight” rating on shares of HudBay Minerals in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.04.
HudBay Minerals (NYSE:HBM) traded up 1.05% during mid-day trading on Monday, hitting $3.85. 118,005 shares of the stock were exchanged. The stock has a 50 day moving average price of $3.89 and a 200 day moving average price of $4.31. HudBay Minerals has a 1-year low of $1.56 and a 1-year high of $5.57. The company’s market capitalization is $909.49 million.
HudBay Minerals (NYSE:HBM) last announced its earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. The company earned $247 million during the quarter, compared to the consensus estimate of $249.18 million. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The business’s revenue was up 63.7% on a year-over-year basis. On average, equities analysts anticipate that HudBay Minerals will post $0.07 earnings per share for the current fiscal year.
The business also recently declared a semiannual dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were given a $0.0076 dividend. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. This represents a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, September 7th. HudBay Minerals’s dividend payout ratio is presently -1.63%.
A number of large investors have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC raised its stake in HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock worth $227,000 after buying an additional 35,300 shares during the last quarter. PineBridge Investments L.P. raised its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock worth $406,000 after buying an additional 9,160 shares during the last quarter. Acadian Asset Management LLC bought a new stake in HudBay Minerals during the second quarter worth approximately $382,000. Flow Traders U.S. LLC bought a new stake in HudBay Minerals during the second quarter worth approximately $389,000. Finally, Cubist Systematic Strategies LLC raised its stake in HudBay Minerals by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 111,200 shares of the mining company’s stock worth $529,000 after buying an additional 30,314 shares during the last quarter. 66.87% of the stock is owned by institutional investors and hedge funds.
About HudBay Minerals
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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