Hudbay Minerals (NYSE:HBM) Downgraded to “Hold” at StockNews.com

Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other research firms have also commented on HBM. Barclays lowered Hudbay Minerals from an “overweight” rating to an “equal weight” rating in a report on Monday, October 17th. National Bank Financial raised their price objective on Hudbay Minerals from C$7.50 to C$8.50 in a report on Monday, January 9th. Scotiabank reaffirmed a “sector outperform” rating on shares of Hudbay Minerals in a report on Monday, October 24th. Finally, TheStreet raised Hudbay Minerals from a “d” rating to a “c” rating in a report on Friday, November 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.94.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $6.17 on Friday. The firm has a market capitalization of $1.62 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.89. The business’s fifty day moving average price is $5.38 and its 200 day moving average price is $4.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.24 and a quick ratio of 0.92. Hudbay Minerals has a 12 month low of $3.08 and a 12 month high of $8.75.

Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last posted its earnings results on Wednesday, November 2nd. The mining company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.17 million for the quarter, compared to analyst estimates of $290.09 million. Hudbay Minerals had a return on equity of 3.61% and a net margin of 4.94%. On average, sell-side analysts anticipate that Hudbay Minerals will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently made changes to their positions in the business. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Hudbay Minerals during the second quarter worth about $31,000. US Bancorp DE boosted its stake in shares of Hudbay Minerals by 2,017.3% during the third quarter. US Bancorp DE now owns 9,782 shares of the mining company’s stock worth $39,000 after buying an additional 9,320 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Hudbay Minerals during the second quarter worth about $49,000. Evergreen Capital Management LLC acquired a new stake in shares of Hudbay Minerals during the third quarter worth about $51,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Hudbay Minerals during the second quarter worth about $67,000. Institutional investors and hedge funds own 80.19% of the company’s stock.

About Hudbay Minerals

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.