HudBay Minerals (NYSE:HBM) Cut to Buy at Wall Street Zen

Key Points

• HudBay Minerals has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, although other analysts still maintain a generally positive outlook with multiple outperform ratings.
• The company's recent quarterly earnings surpassed estimates, reporting $0.19 EPS compared to a consensus of $0.11, with a year-over-year revenue increase of 26.1%.
• HudBay Minerals' current trading price is approximately $12.02, with a 12-month high of $12.10 and a market cap of $4.75 billion.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

Several other equities research analysts have also recently commented on the company. Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

HudBay Minerals Stock Up 3.3%

NYSE HBM traded up $0.40 during trading on Tuesday, hitting $12.46. The stock had a trading volume of 8,125,449 shares, compared to its average volume of 6,721,174. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. The company's 50-day moving average price is $10.54 and its two-hundred day moving average price is $8.88. The company has a market capitalization of $4.93 billion, a PE ratio of 17.06, a P/E/G ratio of 0.29 and a beta of 1.51. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $12.47.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. The firm had revenue of $536.40 million for the quarter, compared to the consensus estimate of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The business's revenue for the quarter was up 26.1% on a year-over-year basis. As a group, sell-side analysts forecast that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Trading of HudBay Minerals

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of HudBay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 1,481 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of HudBay Minerals in the 1st quarter worth $33,000. Jones Financial Companies Lllp boosted its holdings in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after purchasing an additional 3,733 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in HudBay Minerals during the second quarter worth $84,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

HudBay Minerals Company Profile

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.