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

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been assigned an average recommendation of “Buy” from the ten research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.36.

Several equities analysts have recently weighed in on HBM shares. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group upped their price objective on Hudbay Minerals from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Tuesday, April 9th.

Hudbay Minerals Price Performance

Shares of HBM opened at $8.02 on Tuesday. The firm has a fifty day simple moving average of $9.05 and a two-hundred day simple moving average of $7.61. The firm has a market cap of $3.15 billion, a PE ratio of 34.85 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 has a 1-year low of $3.94 and a 1-year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $524.99 million during the quarter, compared to analysts’ expectations of $463.69 million. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. On average, equities analysts anticipate that Hudbay Minerals will post 0.59 EPS for the current year.

Institutional Trading of Hudbay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBM. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after buying an additional 2,085,641 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Hudbay Minerals by 33.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock worth $27,604,000 after purchasing an additional 1,266,717 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hudbay Minerals by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock valued at $396,000 after purchasing an additional 4,655 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at about $14,618,000. Finally, Foundry Partners LLC increased its holdings in shares of Hudbay Minerals by 3.0% in the fourth quarter. Foundry Partners LLC now owns 1,051,600 shares of the mining company’s stock worth $5,805,000 after purchasing an additional 30,696 shares during the last quarter. 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.