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

StockNews.com downgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a hold rating in a report released on Wednesday morning.

Hudbay Minerals Stock Performance

Shares of NYSE HBM opened at $8.60 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 stock has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $8.49. The company has a market cap of $3.39 billion, a PE ratio of 37.37 and a beta of 1.76. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49.

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

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Hudbay Minerals during the third quarter worth approximately $28,000. Exchange Traded Concepts LLC bought a new stake in Hudbay Minerals during the third quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals in the third quarter valued at $92,000. Armistice Capital LLC bought a new position in shares of Hudbay Minerals in the second quarter valued at $97,000. Finally, First Affirmative Financial Network bought a new position in shares of Hudbay Minerals in the third quarter valued at $103,000. Institutional investors own 57.82% of the company’s stock.

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.