Hudbay Minerals (NYSE:HBM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a report released on Friday morning.

A number of other analysts have also weighed in on the company. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.89 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The stock has a fifty day moving average price of $8.84 and a two-hundred day moving average price of $8.68. Hudbay Minerals has a 52-week low of $4.30 and a 52-week high of $10.49. The firm has a market capitalization of $3.50 billion, a P/E ratio of 38.63 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.68% and a net margin of 4.23%. The firm had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same period in the prior year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts anticipate that Hudbay Minerals will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky bought a new position in Hudbay Minerals during the third quarter worth about $2,771,000. Toronto Dominion Bank boosted its holdings in Hudbay Minerals by 300.9% during the third quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after buying an additional 170,257 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Hudbay Minerals by 4.9% during the third quarter. Geode Capital Management LLC now owns 183,967 shares of the mining company’s stock worth $1,700,000 after buying an additional 8,664 shares during the last quarter. Barclays PLC boosted its holdings in Hudbay Minerals by 2,414.5% during the third quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after buying an additional 83,036 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Hudbay Minerals during the third quarter worth about $1,122,000. 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.