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

HudBay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

HBM has been the subject of a number of other research reports. Bank of America reduced their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday. Barclays assumed coverage on HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price on the stock. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

HudBay Minerals Stock Performance

NYSE:HBM traded up $0.06 during trading hours on Friday, reaching $21.64. The company had a trading volume of 3,042,524 shares, compared to its average volume of 4,639,285. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.33 and a beta of 1.48. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $25.50 and its 200-day moving average price is $23.96. HudBay Minerals has a 52 week low of $8.93 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. On average, analysts forecast that HudBay Minerals will post 1.58 EPS for the current year.

Institutional Trading of HudBay Minerals

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its position in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares in 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 bought a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $45,000. Banque Cantonale Vaudoise grew its stake in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals News Roundup

Here are the key news stories impacting HudBay Minerals this week:

• Positive Sentiment: HudBay Minerals secured approval in Peru to expand the Constancia mine, a development that could increase output and extend the mine’s operating life. Hudbay Minerals (TSX:HBM) Secures Peru Approval To Expand Constancia Mine Capacity
• Positive Sentiment: Another article argues the Constancia permit expansion and life-extension could improve the investment case for HudBay by strengthening its long-term production outlook. Constancia Permit Expansion and Life Extension Might Change The Case For Investing In Hudbay Minerals (TSX:HBM)
• Neutral Sentiment: Bank of America lowered its price target on HudBay Minerals to $29.50 from $33.50, but kept a Buy rating, which is a mild valuation headwind but not a bearish call. HudBay Minerals (NYSE:HBM) Price Target Lowered to $29.50 at Bank of America
• Neutral Sentiment: Scotiabank slightly trimmed FY2027 earnings estimates for HudBay, though it maintained an Outperform rating, suggesting only a modest change in expectations. HudBay Minerals Inc. Stock Price, News & Analysis

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.