Hudbay Minerals (NYSE:HBM) Rating Increased to Strong-Buy at StockNews.com

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

HBM has been the subject of a number of other reports. Desjardins assumed coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They set a “buy” rating for the company. Stifel Canada upgraded shares of 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 report on Wednesday, April 16th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $14.00.

Hudbay Minerals Trading Down 1.8%

Shares of NYSE HBM opened at $8.50 on Tuesday. Hudbay Minerals has a 1 year low of $5.95 and a 1 year high of $10.49. The stock has a market cap of $3.36 billion, a P/E ratio of 47.22 and a beta of 1.56. The firm has a 50-day moving average of $7.43 and a 200 day moving average of $8.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data 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 analysts’ expectations of $537.36 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, sell-side analysts expect that Hudbay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Trading of Hudbay Minerals

Several large investors have recently modified their holdings of the company. Pictet Asset Management Holding SA grew its position in Hudbay Minerals by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after buying an additional 1,278 shares during the period. SBI Securities Co. Ltd. grew its position in Hudbay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after buying an additional 1,481 shares during the period. Federated Hermes Inc. grew its position in Hudbay Minerals by 1.4% during the first quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company’s stock valued at $963,000 after buying an additional 1,794 shares during the period. Sprott Inc. grew its holdings in Hudbay Minerals by 3.5% during the fourth quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock valued at $516,000 after purchasing an additional 2,162 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Hudbay Minerals by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock valued at $589,000 after purchasing an additional 2,740 shares during the period. Institutional investors own 57.82% of the company’s stock.

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.