Hudbay Minerals (NYSE:HBM) Raised to “Strong-Buy” at Stifel Canada

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities research analysts at Stifel Canada to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $11.50.

Hudbay Minerals Stock Down 0.3 %

HBM stock opened at $8.33 on Wednesday. Hudbay Minerals has a twelve month low of $6.42 and a twelve month high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.29 billion, a P/E ratio of 46.25 and a beta of 1.72. The business’s 50-day moving average price is $8.14 and its 200-day moving average price is $8.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Hudbay Minerals will post 0.79 EPS for the current year.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Holding SA increased its position in Hudbay Minerals by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after buying an additional 1,278 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock valued at $1,815,000 after buying an additional 1,487 shares in the last quarter. Sprott Inc. increased its position in Hudbay Minerals by 3.5% during the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock valued at $516,000 after buying an additional 2,162 shares in the last quarter. FMR LLC increased its position in Hudbay Minerals by 0.7% during the 3rd quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after buying an additional 2,624 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Hudbay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock valued at $589,000 after buying an additional 2,740 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.