StockNews.com Lowers Hudbay Minerals (NYSE:HBM) to Hold

StockNews.com downgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group upped their target price on shares of Hudbay Minerals from $13.00 to $14.00 and gave the stock a hold rating in a research report on Friday, July 12th. National Bank Financial raised Hudbay Minerals from a hold rating to a strong-buy rating in a report on Tuesday, May 14th. Finally, Stifel Canada raised Hudbay Minerals to a strong-buy rating in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Hudbay Minerals currently has a consensus rating of Buy and an average price target of $10.36.

Hudbay Minerals Price Performance

HBM traded down $0.20 during trading on Tuesday, hitting $7.64. The company’s stock had a trading volume of 374,402 shares, compared to its average volume of 2,959,134. The firm’s 50 day moving average price is $8.49 and its two-hundred day moving average price is $7.76. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 32.96 and a beta of 1.83. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The business had revenue of $524.99 million during the quarter, compared to analysts’ expectations of $463.69 million. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. Sell-side analysts forecast that Hudbay Minerals will post 0.59 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.007 per share. The ex-dividend date is Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC acquired a new position in shares of Hudbay Minerals in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise increased its holdings in shares of Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after acquiring an additional 1,806 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Hudbay Minerals in the first quarter worth about $85,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals during the second quarter worth about $96,000. Finally, Armistice Capital LLC bought a new position in shares of Hudbay Minerals during the 2nd quarter valued at about $97,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.