Hudbay Minerals Inc. (NYSE:HBM) Given Average Recommendation of “Buy” by Brokerages

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been assigned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.17.

HBM has been the subject of several research analyst reports. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Northwest & Ethical Investments L.P. increased its stake in shares of Hudbay Minerals by 0.8% during 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 acquiring an additional 1,487 shares during the period. Van ECK Associates Corp raised its stake in shares of Hudbay Minerals by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after buying an additional 1,960 shares in the last quarter. MQS Management LLC lifted its holdings 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 buying an additional 2,592 shares during the period. FMR LLC boosted its stake in Hudbay Minerals by 0.7% during the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after buying an additional 2,624 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Hudbay Minerals by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock worth $674,000 after acquiring an additional 2,905 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Trading Down 0.1 %

Shares of HBM stock opened at $9.12 on Monday. Hudbay Minerals has a 1-year low of $4.34 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm’s 50-day simple moving average is $9.00 and its 200-day simple moving average is $8.70. The firm has a market cap of $3.59 billion, a P/E ratio of 39.65 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released 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. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Hudbay Minerals’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Hudbay Minerals will post 0.53 EPS for the current year.

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.