HudBay Minerals (NYSE:HBM) Stock Moved Down to “Hold” by Wall Street Zen

Wall Street Zen cut shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

HBM has been the subject of a number of other reports. Bank of America lowered their target price on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Barclays restated an “overweight” rating on shares of HudBay Minerals in a research note on Tuesday, October 6th. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, HudBay Minerals currently has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Trading Down 0.1%

HudBay Minerals stock opened at $21.96 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The stock has a market cap of $9.75 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 0.40 and a beta of 1.58. The stock has a 50-day moving average of $26.69 and a two-hundred day moving average of $25.46. HudBay Minerals has a one year low of $14.34 and a one year high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. The business had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. On average, research analysts anticipate that HudBay Minerals will post 1.40 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th were issued a C$0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is 1.76%.

Institutional Trading of HudBay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Robeco Schweiz AG boosted its holdings in HudBay Minerals by 2.5% in the third quarter. Robeco Schweiz AG now owns 1,253,650 shares of the mining company’s stock valued at $33,447,000 after purchasing an additional 30,650 shares during the last quarter. Signaturefd LLC grew its position in HudBay Minerals by 14.8% during the 3rd quarter. Signaturefd LLC now owns 40,112 shares of the mining company’s stock worth $1,070,000 after purchasing an additional 5,180 shares during the period. Triasima Portfolio Management inc. grew its position in HudBay Minerals by 4.2% during the 3rd quarter. Triasima Portfolio Management inc. now owns 587,103 shares of the mining company’s stock worth $15,731,000 after purchasing an additional 23,556 shares during the period. GK Wealth Management LLC purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at about $87,000. Finally, Acasta Partners UK LLP raised its stake in shares of HudBay Minerals by 75.7% during the 3rd quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company’s stock valued at $5,270,000 after buying an additional 85,000 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.