Hudbay Minerals (HBM) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

HBM has been the subject of a number of other research reports. Zacks Investment Research downgraded Hudbay Minerals from a hold rating to a sell rating in a research report on Wednesday, January 3rd. Canaccord Genuity upgraded Hudbay Minerals from a hold rating to a buy rating in a report on Monday. National Bank Financial downgraded Hudbay Minerals from an outperform rating to a sector perform rating in a report on Thursday, January 18th. Finally, Macquarie upgraded Hudbay Minerals from a neutral rating to an outperform rating in a report on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $11.25.

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Shares of HBM stock traded down $0.13 on Tuesday, reaching $6.92. 248,386 shares of the stock were exchanged, compared to its average volume of 826,016. The company has a market cap of $1,737.45, a P/E ratio of 12.37 and a beta of 2.98. Hudbay Minerals has a one year low of $4.60 and a one year high of $10.25. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, February 21st. The mining company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $414.14 million for the quarter, compared to the consensus estimate of $414.00 million. Hudbay Minerals had a return on equity of 7.13% and a net margin of 12.03%. equities research analysts anticipate that Hudbay Minerals will post 0.8 earnings per share for the current fiscal year.

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, March 29th. Investors of record on Friday, March 9th were issued a $0.008 dividend. The ex-dividend date was Thursday, March 8th. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is presently 3.51%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ICM Asset Management Inc. WA increased its holdings in Hudbay Minerals by 64.4% in the fourth quarter. ICM Asset Management Inc. WA now owns 388,670 shares of the mining company’s stock valued at $3,420,000 after purchasing an additional 152,295 shares during the last quarter. LPL Financial LLC acquired a new position in Hudbay Minerals in the fourth quarter valued at about $243,000. Millennium Management LLC grew its stake in Hudbay Minerals by 98.3% in the fourth quarter. Millennium Management LLC now owns 1,271,829 shares of the mining company’s stock valued at $11,192,000 after acquiring an additional 630,305 shares during the period. Paloma Partners Management Co acquired a new position in Hudbay Minerals in the fourth quarter valued at about $204,000. Finally, Two Sigma Investments LP grew its stake in Hudbay Minerals by 144.7% in the fourth quarter. Two Sigma Investments LP now owns 1,616,724 shares of the mining company’s stock valued at $14,320,000 after acquiring an additional 956,148 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

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About Hudbay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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