StockNews.com Upgrades Hudbay Minerals (NYSE:HBM) to Strong-Buy

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts also recently issued research reports about the company. Desjardins assumed coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has an average rating of “Buy” and an average price target of $14.00.

Hudbay Minerals Stock Performance

NYSE HBM opened at $8.50 on Tuesday. The company has a market cap of $3.36 billion, a P/E ratio of 47.22 and a beta of 1.56. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 12-month low of $5.95 and a 12-month high of $10.49. The company has a fifty day simple moving average of $7.43 and a 200 day simple moving average of $8.16.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Sell-side analysts predict that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in shares of Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after buying an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Hudbay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,481 shares during the period. Banque Cantonale Vaudoise bought a new position in Hudbay Minerals in the 1st quarter worth $33,000. Algert Global LLC bought a new position in Hudbay Minerals in the 4th quarter worth $86,000. Finally, Headlands Technologies LLC bought a new position in Hudbay Minerals in the 1st quarter worth $92,000. 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.