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

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.47 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.33 billion, a P/E ratio of 36.81 and a beta of 1.76. The business has a 50-day moving average of $8.67 and a 200-day moving average of $8.50. Hudbay Minerals has a 1 year low of $4.94 and a 1 year high of $10.49.

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

Institutional Trading of Hudbay Minerals

Several hedge funds have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC grew its stake in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after acquiring an additional 9,166,952 shares during the period. Bank of Montreal Can grew its position in shares of Hudbay Minerals by 23.1% in the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after purchasing an additional 1,441,991 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Hudbay Minerals by 31.9% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after purchasing an additional 906,417 shares during the period. Dimensional Fund Advisors LP increased its stake in Hudbay Minerals by 24.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after purchasing an additional 702,170 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Hudbay Minerals by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after buying an additional 359,126 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.