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

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given an average rating of “Buy” by the ten brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.21.

HBM has been the subject of several analyst reports. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Tuesday, April 9th. National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. Raymond James upped their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Stifel Nicolaus began coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating for the company. Finally, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals during the first quarter valued at about $35,000. Banque Cantonale Vaudoise grew its position in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after acquiring an additional 1,806 shares during the last quarter. Ballentine Partners LLC purchased a new position in Hudbay Minerals in the 1st quarter worth approximately $85,000. Bank of Nova Scotia lifted its position in Hudbay Minerals by 19.1% in the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after purchasing an additional 3,979 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Hudbay Minerals during the first quarter valued at approximately $130,000. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $9.18 on Friday. The business’s 50 day simple moving average is $9.09 and its 200 day simple moving average is $7.17. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 39.89 and a beta of 1.82. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. The company had revenue of $524.99 million during the quarter, compared to the consensus estimate of $463.69 million. Sell-side analysts forecast that Hudbay Minerals will post 0.6 EPS for the current year.

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.