HudBay Minerals (NYSE:HBM) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded HudBay Minerals (NYSE:HBM) from a "buy" to a "hold" in a note to investors issued Sunday.
• Analyst sentiment remains generally positive overall — the tally is 1 Strong Buy, 11 Buy and 2 Hold with an average rating of "Moderate Buy" and an average price target of $26, while Citigroup lifted its target to $32.50.
• In the most recent quarter HudBay missed EPS (reported $0.22 vs. $0.40 est.) but revenue rose 25.3% year‑over‑year to $732.9M; the stock trades near $24.35 with a market cap of about $9.66B.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

HBM has been the topic of a number of other research reports. Citigroup lifted their target price on HudBay Minerals from $23.00 to $32.50 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, January 15th. National Bank Financial downgraded HudBay Minerals from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, January 28th. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research note on Monday, January 26th. Finally, Weiss Ratings upgraded HudBay Minerals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.00.

HudBay Minerals Stock Up 3.7%

Shares of HudBay Minerals stock opened at $24.35 on Friday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 17.03, a PEG ratio of 0.33 and a beta of 1.41. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $23.30 and a two-hundred day moving average price of $20.04. HudBay Minerals has a 12-month low of $6.63 and a 12-month high of $28.74.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The company's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Equities analysts expect that HudBay Minerals will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On HudBay Minerals

A number of institutional investors and hedge funds have recently bought and sold shares of HBM. Allworth Financial LP increased its holdings in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company's stock worth $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $38,000. Global Retirement Partners LLC bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company's stock valued at $48,000 after purchasing an additional 2,655 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

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.

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