HudBay Minerals (NYSE:HBM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a strong-buy rating in a research note released on Saturday.

Other equities research analysts have also recently issued reports about the stock. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Raymond James Financial upgraded shares of HudBay Minerals to a “moderate buy” rating in a report on Monday, June 30th. Veritas upgraded shares of HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Finally, BMO Capital Markets initiated coverage on HudBay Minerals in a research report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

HudBay Minerals Trading Down 1.0%

NYSE HBM opened at $9.55 on Friday. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $11.13. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.78 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 0.25 and a beta of 1.63. The firm’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $8.56.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data 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 firm had revenue of $594.90 million during the quarter, compared to analysts’ expectations of $537.36 million. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. HudBay Minerals’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, sell-side analysts anticipate that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake 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 valued at $25,000 after buying an additional 3,062 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of HudBay Minerals by 64.6% in 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. Banque Cantonale Vaudoise bought a new stake in shares of HudBay Minerals in the first quarter valued at about $33,000. Jones Financial Companies Lllp lifted its stake in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares during the period. Finally, Plato Investment Management Ltd bought a new position in HudBay Minerals during the second quarter worth about $84,000. 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.