HudBay Minerals (NYSE:HBM) Posts Earnings Results, Misses Expectations By $0.08 EPS

HudBay Minerals (NYSE:HBM) (TSE:HBM) announced its quarterly earnings results on Friday. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.08), Zacks reports. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS.

HudBay Minerals Stock Down 3.7%

HBM stock traded down $0.91 during trading on Friday, reaching $23.83. The stock had a trading volume of 4,040,417 shares, compared to its average volume of 6,364,480. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 20.58 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $22.72 and its two-hundred day moving average is $17.32. HudBay Minerals has a one year low of $5.95 and a one year high of $28.74.

Institutional Trading of HudBay Minerals

Several hedge funds have recently made changes to their positions in HBM. Vontobel Holding Ltd. raised its position in shares of HudBay Minerals by 0.6% in the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock valued at $2,503,000 after purchasing an additional 738 shares during the period. Allworth Financial LP grew its position in shares of HudBay Minerals by 107.9% during the 3rd 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 in the last quarter. Creative Planning increased its holdings in shares of HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of HudBay Minerals by 29.5% in the third quarter. CIBC Private Wealth Group LLC now owns 9,714 shares of the mining company’s stock worth $147,000 after buying an additional 2,215 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $38,000. 57.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HBM has been the topic of a number of analyst reports. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Citigroup lifted their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, HudBay Minerals currently has a consensus rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals Company Profile

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.