HudBay Minerals Inc (NYSE:HBM) Receives Average Recommendation of “Buy” from Analysts

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company.

Several analysts have weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. BMO Capital Markets began coverage on shares of HudBay Minerals in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. CIBC reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Veritas raised shares of HudBay Minerals to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Raymond James Financial raised shares of HudBay Minerals to a “moderate buy” rating in a research note on Monday, June 30th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HBM. Tower Research Capital LLC TRC raised its holdings in 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 during the last quarter. SBI Securities Co. Ltd. raised its holdings in HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after buying an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in HudBay Minerals in the first quarter worth about $33,000. Jones Financial Companies Lllp raised its holdings in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after buying an additional 3,733 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new position in HudBay Minerals in the second quarter worth about $84,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Price Performance

HBM stock opened at $9.64 on Thursday. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 0.25 and a beta of 1.63. The company’s fifty day simple moving average is $9.93 and its 200 day simple moving average is $8.55. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $11.13. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. On average, analysts expect that HudBay Minerals will post 0.79 earnings per share 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.