HudBay Minerals (NYSE:HBM) Cut to Sector Perform at National Bank Financial

National Bank Financial downgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from an outperform rating to a sector perform rating in a research note published on Thursday morning, Marketbeat reports.

Several other analysts have also weighed in on the company. CIBC reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. National Bankshares cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Finally, Bank of America increased their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

HudBay Minerals Stock Down 12.0%

Shares of HudBay Minerals stock opened at $23.69 on Thursday. The company has a market capitalization of $9.40 billion, a PE ratio of 20.42 and a beta of 1.36. The business has a 50-day moving average of $20.41 and a 200-day moving average of $15.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $346.80 million during the quarter, compared to analyst estimates of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.HudBay Minerals’s quarterly revenue was down 28.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts forecast that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HBM. GMT Capital Corp bought a new position in HudBay Minerals during the 2nd quarter valued at about $337,809,000. Hancock Prospecting Pty Ltd purchased a new stake in shares of HudBay Minerals during the second quarter worth approximately $154,359,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of HudBay Minerals during the 3rd quarter worth $123,736,000. Picton Mahoney Asset Management purchased a new position in HudBay Minerals in the 2nd quarter valued at approximately $61,432,000. Finally, Norges Bank acquired a new position in shares of HudBay Minerals during the 2nd quarter worth about $60,053,000. Institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.