HudBay Minerals (NYSE:HBM) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a report issued on Saturday morning.

HBM has been the subject of several other reports. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Bank of America cut their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, HudBay Minerals currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Stock Performance

Shares of HudBay Minerals stock opened at $22.73 on Friday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 13.37, a PEG ratio of 0.35 and a beta of 1.48. The company has a quick ratio of 1.20, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $24.65 and a 200 day moving average price of $24.13. HudBay Minerals has a 52 week low of $9.01 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. HudBay Minerals’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. Sell-side analysts expect that HudBay Minerals will post 1.55 EPS for the current year.

HudBay Minerals Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. Quarry LP purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at about $38,000. IFP Advisors Inc acquired a new position in shares of HudBay Minerals in the 3rd quarter valued at about $45,000. Banque Cantonale Vaudoise lifted its holdings in shares of HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of HudBay Minerals in the fourth quarter worth about $71,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

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.