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

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

Hudbay Minerals Trading Up 0.4 %

Shares of Hudbay Minerals stock opened at $8.47 on Wednesday. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49. The stock has a market capitalization of $3.33 billion, a P/E ratio of 36.81 and a beta of 1.76. The company has a 50-day simple moving average of $8.67 and a 200 day simple moving average of $8.50. 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 (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. The company had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. Research analysts expect that Hudbay Minerals will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HBM. Mountaineer Partners Management LLC increased its position in Hudbay Minerals by 792.5% in the 3rd 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 in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $20,907,000. Cubist Systematic Strategies LLC increased its holdings in shares of Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after purchasing an additional 1,685,836 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Hudbay Minerals in the 2nd quarter worth approximately $14,718,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Hudbay Minerals by 158.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,648,536 shares of the mining company’s stock worth $23,970,000 after buying an additional 1,624,900 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

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.