HudBay Minerals (NYSE:HBM) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• HudBay Minerals has been downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating, while several other analysts maintain an "outperform" rating for the stock.
• The company reported earnings of $0.19 per share for the last quarter, exceeding analysts' expectations, although revenue of $536.40 million fell short of projections.
• Institutional investors own approximately 57.82% of HudBay Minerals, with companies like GMT Capital Corp and Vanguard Group making significant investments recently.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

A number of other equities research analysts have also recently issued reports on HBM. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Royal Bank Of Canada reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

HudBay Minerals Trading Up 0.3%

HudBay Minerals stock opened at $11.02 on Friday. The company's fifty day simple moving average is $10.04 and its 200-day simple moving average is $8.63. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $12.10. The stock has a market cap of $4.36 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.28 and a beta of 1.63.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. The firm had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.91%. HudBay Minerals's quarterly revenue was up 26.1% compared to the same quarter last year. As a group, sell-side analysts forecast that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

A number of hedge funds have recently bought and sold shares of the company. GMT Capital Corp bought a new stake in HudBay Minerals during the second quarter valued at about $337,809,000. Vanguard Group Inc. boosted its holdings in HudBay Minerals by 0.9% during the first quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company's stock valued at $116,738,000 after acquiring an additional 131,012 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in HudBay Minerals by 2.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,993,620 shares of the mining company's stock valued at $113,657,000 after acquiring an additional 331,121 shares during the period. Hancock Prospecting Pty Ltd acquired a new position in shares of HudBay Minerals during the second quarter valued at about $154,359,000. Finally, L1 Capital Pty Ltd raised its position in shares of HudBay Minerals by 44.1% during the first quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company's stock valued at $109,365,000 after buying an additional 4,410,778 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

About HudBay Minerals

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.

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