Hudbay Minerals Inc. (NYSE:HBM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.17.

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday.

Hudbay Minerals Stock Performance

HBM opened at $9.34 on Friday. The company’s 50 day moving average is $8.58 and its 200 day moving average is $8.47. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 40.59 and a beta of 1.74. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $485.80 million for 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 company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS. On average, equities research analysts predict that Hudbay Minerals will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mountaineer Partners Management LLC raised its holdings in Hudbay Minerals by 792.5% during the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after acquiring an additional 9,166,952 shares during the period. Bank of Montreal Can raised its stake in Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after purchasing an additional 1,441,991 shares during the period. Donald Smith & CO. Inc. lifted its holdings in Hudbay Minerals by 31.9% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after purchasing an additional 906,417 shares in the last quarter. Jennison Associates LLC boosted its stake in Hudbay Minerals by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after purchasing an additional 359,126 shares during the period. Finally, Regal Partners Ltd grew its holdings in Hudbay Minerals by 5.4% during the 3rd quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock valued at $24,570,000 after buying an additional 136,943 shares in the last quarter. Hedge funds and other 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.