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

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have received an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.17.

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th.

Hudbay Minerals Price Performance

Shares of HBM opened at $9.09 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 39.52 and a beta of 1.74. Hudbay Minerals has a 52 week low of $4.94 and a 52 week high of $10.49. The stock has a 50 day moving average of $8.61 and a 200-day moving average of $8.50.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, analysts forecast that Hudbay Minerals will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA raised its stake in Hudbay Minerals by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after acquiring an additional 1,278 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings 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 purchasing an additional 1,487 shares during the period. Van ECK Associates Corp raised its stake in shares of Hudbay Minerals by 0.4% during 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. Sprott Inc. lifted its holdings in Hudbay Minerals by 3.5% in the fourth quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after purchasing an additional 2,162 shares during the period. Finally, MQS Management LLC grew its position in Hudbay Minerals by 8.2% in the 3rd 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 in the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.