HudBay Minerals Inc. (NYSE:HBM) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Monday.
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 research analysts have also recently weighed in on HBM. Credit Suisse Group AG cut HudBay Minerals from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 28th. Scotiabank restated an “outperform” rating and issued a $8.00 price target on shares of HudBay Minerals in a research note on Thursday, July 28th. BMO Capital Markets cut HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price target for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Barclays PLC restated an “underweight” rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. Finally, RBC Capital Markets restated an “outperform” rating and issued a $8.00 price target (up previously from $7.50) on shares of HudBay Minerals in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. HudBay Minerals presently has a consensus rating of “Hold” and a consensus target price of $7.04.
Shares of HudBay Minerals (NYSE:HBM) traded up 1.05% on Monday, reaching $3.85. The company’s stock had a trading volume of 118,005 shares. The company’s 50-day moving average is $3.89 and its 200 day moving average is $4.31. HudBay Minerals has a 12-month low of $1.56 and a 12-month high of $5.57. The company’s market capitalization is $909.49 million.
HudBay Minerals (NYSE:HBM) last posted its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. HudBay Minerals had a positive return on equity of 0.50% and a negative net margin of 26.09%. The business earned $247 million during the quarter, compared to analysts’ expectations of $249.18 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. The firm’s revenue for the quarter was up 63.7% compared to the same quarter last year. Equities analysts anticipate that HudBay Minerals will post $0.07 earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.0076 dividend. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date was Wednesday, September 7th. This represents a dividend yield of 0.3%. HudBay Minerals’s dividend payout ratio is -1.63%.
Several institutional investors have recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. raised its position in HudBay Minerals by 0.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 25,998,894 shares of the mining company’s stock worth $123,309,000 after buying an additional 124,550 shares during the period. Capital Research Global Investors raised its position in HudBay Minerals by 11.2% in the second quarter. Capital Research Global Investors now owns 11,100,000 shares of the mining company’s stock worth $53,011,000 after buying an additional 1,115,000 shares during the period. Vanguard Group Inc. raised its position in HudBay Minerals by 19.9% in the second quarter. Vanguard Group Inc. now owns 4,322,023 shares of the mining company’s stock worth $20,659,000 after buying an additional 718,315 shares during the period. Greystone Managed Investments Inc. acquired a new position in HudBay Minerals during the second quarter worth $5,986,000. Finally, Citadel Advisors LLC acquired a new position in HudBay Minerals during the second quarter worth $2,435,000. 66.87% of the stock is owned by hedge funds and other institutional investors.
About HudBay Minerals
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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