Hudbay Minerals (NYSE:HBM) Rating Lowered to “Hold” at StockNews.com

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

Hudbay Minerals Stock Performance

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

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share 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 firm had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Hudbay Minerals will post 0.54 EPS for the current year.

Institutional Investors Weigh In On Hudbay Minerals

A number of institutional investors have recently added to or reduced their stakes in the stock. Cinctive Capital Management LP raised its holdings in shares of Hudbay Minerals by 39.7% in the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after buying an additional 116,732 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of 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 valued at $71,308,000 after acquiring an additional 1,441,991 shares during the period. Toronto Dominion Bank boosted its stake in shares of Hudbay Minerals by 300.9% in the 3rd 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 in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Hudbay Minerals in the 3rd quarter worth about $20,907,000. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Hudbay Minerals during the 2nd quarter worth about $14,718,000. 57.82% of the stock is 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.