HudBay Minerals (NYSE:HBM) Rating Lowered to “Hold” at Natl Bk Canada

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by equities researchers at Natl Bk Canada from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on HBM. CIBC restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Thursday. UBS Group started coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded shares of HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Three 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.00.

HudBay Minerals Stock Down 0.6%

Shares of HBM opened at $26.91 on Wednesday. HudBay Minerals has a 52-week low of $5.95 and a 52-week high of $28.74. The company has a market cap of $10.68 billion, a PE ratio of 23.20 and a beta of 1.36. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $20.24 and a 200 day moving average of $15.72.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.HudBay Minerals’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, sell-side analysts expect that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Investors Weigh In On HudBay Minerals

A number of institutional investors have recently modified their holdings of the business. Triasima Portfolio Management inc. purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $8,057,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of HudBay Minerals in the third quarter valued at about $1,454,000. L1 Capital Pty Ltd raised its holdings in HudBay Minerals by 4.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after acquiring an additional 630,703 shares during the last quarter. Precision Wealth Strategies LLC acquired a new stake in shares of HudBay Minerals in the third quarter valued at approximately $855,000. Finally, Franklin Resources Inc. grew its holdings in HudBay Minerals by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock valued at $8,844,000 after buying an additional 60,942 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.