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

Key Points

• HudBay Minerals has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, amidst mixed reviews from other brokerages.
• The company reported earnings of $0.19 per share in its latest quarterly data, exceeding analysts' expectations of $0.11, while also showing a year-over-year revenue increase of 26.1%.
• Currently, HudBay Minerals has a consensus rating of "Buy" with a consensus price target of $19.50, supported by varied ratings from different financial institutions.

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

A number of other brokerages have also recently weighed in on HBM. Raymond James Financial reiterated an "outperform" rating on shares of HudBay Minerals in a research report on Friday, October 10th. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Zacks Research upgraded HudBay Minerals from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Finally, Veritas upgraded HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $19.50.

HudBay Minerals Stock Performance

HBM opened at $15.83 on Friday. The stock has a market cap of $6.27 billion, a PE ratio of 21.68 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $17.73. The stock's 50 day simple moving average is $14.08 and its 200-day simple moving average is $10.77.

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

Institutional Trading of HudBay Minerals

A number of hedge funds have recently made changes to their positions in HBM. U S Global Investors Inc. lifted its position in shares of HudBay Minerals by 26.7% in the first quarter. U S Global Investors Inc. now owns 95,000 shares of the mining company's stock valued at $721,000 after buying an additional 20,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of HudBay Minerals by 142.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company's stock valued at $761,000 after buying an additional 58,999 shares during the last quarter. Waterfront Wealth Inc. acquired a new stake in shares of HudBay Minerals in the first quarter valued at approximately $321,000. Goehring & Rozencwajg Associates LLC lifted its position in shares of HudBay Minerals by 2.2% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 797,648 shares of the mining company's stock valued at $6,628,000 after buying an additional 17,361 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of HudBay Minerals by 6.2% in the first quarter. Alps Advisors Inc. now owns 176,316 shares of the mining company's stock valued at $1,338,000 after buying an additional 10,346 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.