HudBay Minerals Inc. (HBM) Rating Lowered to Sell at Zacks Investment Research
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 also recently commented on HBM. RBC Capital Markets reaffirmed an “outperform” rating and issued a $8.00 target price (up from $7.50) on shares of HudBay Minerals in a research note on Wednesday, August 3rd. Barclays PLC reiterated an “underweight” rating on shares of HudBay Minerals in a report on Wednesday, August 3rd. TD Securities reiterated a “hold” rating and issued a $7.50 price target on shares of HudBay Minerals in a report on Thursday, August 4th. Scotiabank reiterated an “outperform” rating and issued a $7.50 price target (down previously from $8.00) on shares of HudBay Minerals in a report on Monday, September 19th. Finally, BMO Capital Markets cut shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price target on the stock. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.04.
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Shares of HudBay Minerals (NYSE:HBM) traded up 1.05% during mid-day trading on Monday, hitting $3.85. 118,005 shares of the stock traded hands. The company’s market capitalization is $909.49 million. The company’s 50-day moving average price is $3.89 and its 200 day moving average price is $4.31. HudBay Minerals has a 1-year low of $1.56 and a 1-year high of $5.57.
HudBay Minerals (NYSE:HBM) last issued its earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the 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 firm earned $247 million during the quarter, compared to analysts’ expectations of $249.18 million. During the same period in the previous year, the firm earned ($0.24) earnings per share. The firm’s quarterly revenue was up 63.7% compared to the same quarter last year. Equities research analysts forecast that HudBay Minerals will post $0.07 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were paid a $0.0076 dividend. This is a boost from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a yield of 0.3%. HudBay Minerals’s payout ratio is presently -1.63%.
A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of HudBay Minerals by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 128,059 shares of the mining company’s stock worth $612,000 after buying an additional 2,400 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock worth $406,000 after buying an additional 9,160 shares during the last quarter. AXA boosted its position in shares of HudBay Minerals by 8.7% in the second quarter. AXA now owns 222,000 shares of the mining company’s stock worth $1,055,000 after buying an additional 17,700 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of HudBay Minerals by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 111,200 shares of the mining company’s stock worth $529,000 after buying an additional 30,314 shares during the last quarter. Finally, A.R.T. Advisors LLC boosted its position in shares of HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock worth $227,000 after buying an additional 35,300 shares during the last quarter. Institutional investors own 66.87% of the company’s stock.
HudBay Minerals Company Profile
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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