Hudbay Minerals (NYSE:HBM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a report published on Friday.

Other research analysts also recently issued research reports about the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Trading Down 0.1 %

Shares of NYSE HBM opened at $8.52 on Friday. Hudbay Minerals has a 12 month low of $4.27 and a 12 month high of $10.49. The business has a fifty day simple moving average of $8.79 and a 200-day simple moving average of $8.68. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 37.05 and a beta of 1.78. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a return on equity of 7.68% and a net margin of 4.23%. Hudbay Minerals’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts predict that Hudbay Minerals will post 0.49 EPS for the current year.

Institutional Trading of Hudbay Minerals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after purchasing an additional 272,635 shares during the period. Boston Partners raised its stake in Hudbay Minerals by 29.1% in the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock valued at $3,866,000 after purchasing an additional 124,376 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Hudbay Minerals by 88.8% during the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock worth $1,969,000 after acquiring an additional 132,142 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Hudbay Minerals during the 3rd quarter worth approximately $20,907,000. Finally, Driehaus Capital Management LLC bought a new position in Hudbay Minerals in the second quarter valued at approximately $14,718,000. 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.