HudBay Minerals (NYSE:HBM) Rating Lowered to “Sector Perform” at National Bank Financial

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by stock analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research report issued on Thursday, MarketBeat.com reports.

HBM has been the subject of several other research reports. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Bank of America upped their price target on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. UBS Group began coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating for the company. Zacks Research raised HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Finally, CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.00.

HudBay Minerals Trading Down 12.0%

HBM opened at $23.69 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 20.42 and a beta of 1.36. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $28.74. The stock has a fifty day moving average price of $20.41 and a 200-day moving average price of $15.81.

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

Institutional Investors Weigh In On HudBay Minerals

Large investors have recently bought and sold shares of the company. Allworth Financial LP raised its position in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares during the last quarter. Quarry LP purchased a new position in shares of HudBay Minerals during the third quarter worth $38,000. Global Retirement Partners LLC acquired a new position in HudBay Minerals during the third quarter valued at $45,000. IFP Advisors Inc purchased a new stake in HudBay Minerals in the third quarter valued at $45,000. Finally, Banque Cantonale Vaudoise grew its position in HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the period. Hedge funds and other 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.