Hudbay Minerals (NYSE:HBM) Now Covered by Analysts at Stifel Nicolaus

Stock analysts at Stifel Nicolaus began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research note issued to investors on Tuesday, StockNewsAPI reports. The firm set a “buy” rating on the mining company’s stock.

Separately, Raymond James lifted their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.90.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $6.92 on Tuesday. The company’s 50-day moving average price is $5.88 and its 200-day moving average price is $5.19. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $7.02. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.43 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.94.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. During the same period in the previous year, the firm posted $0.01 EPS. The business’s quarterly revenue was up 87.5% on a year-over-year basis. On average, equities research analysts forecast that Hudbay Minerals will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently bought and sold shares of HBM. Donald Smith & CO. Inc. boosted its stake in Hudbay Minerals by 475.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after acquiring an additional 3,802,687 shares in the last quarter. Morgan Stanley raised its holdings in shares of Hudbay Minerals by 517.8% in the fourth quarter. Morgan Stanley now owns 3,543,730 shares of the mining company’s stock worth $17,967,000 after buying an additional 2,970,160 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Hudbay Minerals in the fourth quarter worth $14,618,000. Invesco Ltd. raised its holdings in shares of Hudbay Minerals by 60.2% in the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after buying an additional 2,630,780 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Hudbay Minerals by 96.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,000,946 shares of the mining company’s stock worth $25,269,000 after buying an additional 2,460,627 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, 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.