Hudbay Minerals Inc. (NYSE:HBM) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have received an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $11.17.

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cinctive Capital Management LP boosted its holdings in Hudbay Minerals by 39.7% during the third quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after purchasing an additional 116,732 shares during the last quarter. Bank of Montreal Can raised its position in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after acquiring an additional 1,441,991 shares in the last quarter. Toronto Dominion Bank raised its position 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 acquiring an additional 170,257 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Hudbay Minerals during the third quarter worth $20,907,000. Finally, Driehaus Capital Management LLC bought a new stake in Hudbay Minerals during the second quarter worth $14,718,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Stock Down 1.6 %

Hudbay Minerals stock opened at $8.60 on Tuesday. The stock has a market capitalization of $3.39 billion, a PE ratio of 37.39 and a beta of 1.76. Hudbay Minerals has a twelve month low of $4.94 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 company has a 50 day moving average of $8.72 and a 200-day moving average of $8.53.

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

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.