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

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

Hudbay Minerals Stock Performance

HBM stock opened at $8.44 on Wednesday. The stock’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $8.50. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49. The firm has a market cap of $3.32 billion, a P/E ratio of 36.68 and a beta of 1.76. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its 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 company had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Hudbay Minerals will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently made changes to their positions in HBM. Prospera Private Wealth LLC acquired a new position in Hudbay Minerals during the 3rd quarter valued at approximately $28,000. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals during the third quarter valued at $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals during the third quarter worth about $92,000. Armistice Capital LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter worth about $97,000. Finally, First Affirmative Financial Network bought a new stake in Hudbay Minerals in the 3rd quarter valued at about $103,000. 57.82% of the stock is owned by institutional investors.

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.