StockNews.com Upgrades Hudbay Minerals (NYSE:HBM) to “Buy”

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other research analysts have also weighed in on HBM. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, April 9th. Raymond James raised their target price 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. Jefferies Financial Group began coverage on Hudbay Minerals in a research report on Friday, May 3rd. They issued a “hold” rating and a $13.00 price target for the company. National Bank Financial upgraded Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. Finally, Stifel Nicolaus initiated coverage on Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $10.21.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $9.49 on Tuesday. The stock has a market capitalization of $3.33 billion, a P/E ratio of 41.26, a P/E/G ratio of 1.01 and a beta of 1.88. The company’s fifty day moving average price is $7.99 and its 200 day moving average price is $6.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. 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 announced its earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The business had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. As a group, equities research analysts anticipate that Hudbay Minerals will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in Hudbay Minerals in the first quarter valued at $35,000. Banque Cantonale Vaudoise lifted its stake in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the last quarter. Ballentine Partners LLC purchased a new position in Hudbay Minerals in the first quarter valued at approximately $85,000. Bank of Nova Scotia raised its holdings in Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after purchasing an additional 3,979 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after buying an additional 7,300 shares during the last quarter. Institutional investors and hedge funds 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.