Hudbay Minerals Inc. (NYSE:HBM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given a consensus rating of “Buy” by the six research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $11.17.

Several research analysts have commented on the company. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new stake in Hudbay Minerals in the third quarter valued at $28,000. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals in the third quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new stake in Hudbay Minerals in the third quarter valued at approximately $92,000. Ritholtz Wealth Management bought a new stake in Hudbay Minerals in the second quarter valued at approximately $96,000. Finally, Armistice Capital LLC acquired a new stake in Hudbay Minerals during the 2nd quarter valued at approximately $97,000. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Shares of NYSE:HBM opened at $8.94 on Monday. Hudbay Minerals has a 1 year low of $4.41 and a 1 year high of $10.49. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.87 and a beta of 1.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company’s 50 day simple moving average is $9.12 and its 200 day simple moving average is $8.70.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same quarter last year, the company posted $0.07 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts predict that Hudbay Minerals will post 0.55 EPS for the current fiscal 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.