Hudbay Minerals (NYSE:HBM) Stock Rating Upgraded by Wall Street Zen

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other research firms have also recently commented on HBM. BMO Capital Markets initiated coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They set an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Desjardins initiated coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They set a “buy” rating for the company. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $14.00.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.81 on Thursday. Hudbay Minerals has a 12-month low of $5.95 and a 12-month high of $10.15. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 48.95 and a beta of 1.56. 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 fifty day moving average price is $7.56 and its 200 day moving average price is $8.12.

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

Institutional Investors Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Hudbay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after acquiring an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Hudbay Minerals by 64.6% in the 1st 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 bought a new position in shares of Hudbay Minerals in the 1st quarter worth about $33,000. Jones Financial Companies Lllp lifted its position in shares of Hudbay Minerals by 131.6% in the 1st 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, Algert Global LLC bought a new position in shares of Hudbay Minerals in the 4th quarter worth about $86,000. 57.82% of the stock is 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.