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

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

Several other brokerages have also issued reports on HBM. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Trading Up 4.3 %

NYSE:HBM opened at $8.89 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. Hudbay Minerals has a fifty-two week low of $4.30 and a fifty-two week high of $10.49. The stock’s 50-day moving average is $8.84 and its two-hundred day moving average is $8.68. The stock has a market cap of $3.50 billion, a PE ratio of 38.63 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $485.80 million for 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 business’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 posted $0.07 EPS. As a group, equities research analysts forecast that Hudbay Minerals will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. raised its stake in shares of Hudbay Minerals by 0.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock valued at $1,815,000 after purchasing an additional 1,487 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after purchasing an additional 1,960 shares in the last quarter. MQS Management LLC raised its stake in shares of Hudbay Minerals by 8.2% in the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock valued at $315,000 after purchasing an additional 2,592 shares in the last quarter. FMR LLC raised its stake in shares of Hudbay Minerals by 0.7% in the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after purchasing an additional 2,624 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hudbay Minerals by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after purchasing an additional 2,905 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.