Hudbay Minerals (NYSE:HBM) Lowered to Hold Rating by StockNews.com

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Hudbay Minerals Stock Down 4.1 %

Hudbay Minerals stock traded down $0.37 during mid-day trading on Wednesday, hitting $8.44. The company’s stock had a trading volume of 4,404,640 shares, compared to its average volume of 4,785,826. Hudbay Minerals has a 52-week low of $4.94 and a 52-week high of $10.49. The company has a market cap of $3.32 billion, a PE ratio of 36.68 and a beta of 1.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm’s 50 day moving average is $8.67 and its 200 day moving average is $8.50.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Hudbay Minerals will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On Hudbay Minerals

Institutional investors have recently made changes to their positions in the company. Cinctive Capital Management LP boosted its stake in shares of Hudbay Minerals by 39.7% during the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after acquiring an additional 116,732 shares in the last quarter. Bank of Montreal Can boosted its position in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after purchasing an additional 1,441,991 shares during the period. Toronto Dominion Bank grew its holdings in Hudbay Minerals by 300.9% during the third quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock valued at $2,085,000 after purchasing an additional 170,257 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Hudbay Minerals in the third quarter valued at approximately $20,907,000. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Hudbay Minerals in the second quarter worth $14,718,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

About Hudbay Minerals

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.