Hudbay Minerals (NYSE:HBM) Upgraded 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.

A number of other equities analysts also recently commented on the stock. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at $8.52 on Friday. The stock has a market capitalization of $3.35 billion, a P/E ratio of 37.05 and a beta of 1.78. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average price is $8.79 and its 200 day moving average price is $8.68. Hudbay Minerals has a twelve month low of $4.27 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.68% and a net margin of 4.23%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, research analysts anticipate that Hudbay Minerals will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Hudbay Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Hudbay Minerals in the third quarter valued at $28,000. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals during the third quarter worth about $53,000. Clear Harbor Asset Management LLC bought a new stake in Hudbay Minerals in the third quarter valued at about $92,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals during the 2nd quarter valued at approximately $96,000. Finally, Armistice Capital LLC acquired a new stake in shares of Hudbay Minerals during the second quarter worth $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.