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

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 on Friday.

A number of other brokerages have also weighed in on HBM. BMO Capital Markets assumed coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Finally, Desjardins assumed coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

HudBay Minerals Price Performance

Shares of NYSE HBM traded down $0.03 during trading hours on Friday, hitting $9.77. 6,575,812 shares of the stock were exchanged, compared to its average volume of 5,642,233. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32. The company has a market cap of $3.86 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 0.27 and a beta of 1.63. The company's fifty day simple moving average is $9.63 and its two-hundred day simple moving average is $8.45. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $11.13.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same quarter last year, the business posted $0.22 EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts predict that HudBay Minerals will post 0.79 EPS for the current year.

Hedge Funds Weigh In On HudBay Minerals

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of HudBay Minerals during the fourth quarter valued at $183,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of HudBay Minerals by 142.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company's stock valued at $761,000 after acquiring an additional 58,999 shares during the last quarter. Guggenheim Capital LLC bought a new position in HudBay Minerals during the fourth quarter worth $186,000. Alliancebernstein L.P. raised its stake in HudBay Minerals by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock worth $589,000 after buying an additional 2,740 shares during the last quarter. Finally, Barclays PLC raised its stake in HudBay Minerals by 7.9% during the fourth quarter. Barclays PLC now owns 93,286 shares of the mining company's stock worth $756,000 after buying an additional 6,811 shares during the last quarter. 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.

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