Hudbay Minerals (NYSE:HBM) Stock Rating Lowered by Zacks Investment Research

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Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “

Several other equities research analysts also recently issued reports on HBM. TheStreet downgraded Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. CIBC reaffirmed a “hold” rating and set a $9.00 price target on shares of Hudbay Minerals in a report on Sunday, May 12th. Canaccord Genuity downgraded Iamgold from a “buy” rating to a “hold” rating and cut their price target for the company from C$7.00 to C$3.75 in a report on Tuesday, May 7th. BMO Capital Markets downgraded Capital Power from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada set a €86.00 ($100.00) price target on Henkel AG & Co KGaA and gave the company a “neutral” rating in a report on Tuesday, May 7th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Hudbay Minerals currently has a consensus rating of “Hold” and a consensus price target of $7.80.

NYSE:HBM opened at $5.15 on Wednesday. The firm has a fifty day moving average price of $5.17. Hudbay Minerals has a 1-year low of $3.44 and a 1-year high of $7.83. The company has a market capitalization of $1.36 billion, a PE ratio of 13.21, a PEG ratio of 4.67 and a beta of 2.83. The company has a quick ratio of 2.14, a current ratio of 2.64 and a debt-to-equity ratio of 0.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The business had revenue of $292.30 million during the quarter, compared to the consensus estimate of $314.70 million. During the same quarter last year, the firm posted $0.16 EPS. The company’s quarterly revenue was down 24.4% on a year-over-year basis. Research analysts predict that Hudbay Minerals will post 0.2 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Hudbay Minerals during the first quarter worth $4,236,000. Heathbridge Capital Management Ltd. lifted its holdings in shares of Hudbay Minerals by 0.6% during the first quarter. Heathbridge Capital Management Ltd. now owns 4,873,000 shares of the mining company’s stock worth $34,825,000 after buying an additional 30,500 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Hudbay Minerals by 5.4% during the fourth quarter. Legal & General Group Plc now owns 61,227 shares of the mining company’s stock worth $290,000 after buying an additional 3,156 shares in the last quarter. QS Investors LLC lifted its holdings in shares of Hudbay Minerals by 34.0% during the fourth quarter. QS Investors LLC now owns 123,800 shares of the mining company’s stock worth $584,000 after buying an additional 31,400 shares in the last quarter. Finally, Waterton Global Resource Management Inc. lifted its holdings in shares of Hudbay Minerals by 3.6% during the first quarter. Waterton Global Resource Management Inc. now owns 31,583,117 shares of the mining company’s stock worth $225,503,000 after buying an additional 1,109,265 shares in the last quarter. 64.84% of the stock is owned by institutional investors.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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