Hudbay Minerals (NYSE:HBM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research note released on Thursday.

Hudbay Minerals Stock Performance

Shares of HBM opened at $8.50 on Thursday. Hudbay Minerals has a one year low of $4.94 and a one year high of $10.49. The company has a 50-day moving average of $8.60 and a two-hundred day moving average of $8.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 36.94 and a beta of 1.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted 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 firm had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. Hudbay Minerals’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Hudbay Minerals will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cinctive Capital Management LP raised its stake in shares of Hudbay Minerals by 39.7% in the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock valued at $3,777,000 after acquiring an additional 116,732 shares in the last quarter. Bank of Montreal Can boosted its stake 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 buying an additional 1,441,991 shares in the last quarter. Toronto Dominion Bank increased its holdings in Hudbay Minerals by 300.9% in the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock valued at $2,085,000 after buying an additional 170,257 shares during the period. Artemis Investment Management LLP bought a new stake in Hudbay Minerals in the 3rd quarter valued at $20,907,000. Finally, Mountaineer Partners Management LLC lifted its holdings in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after acquiring an additional 9,166,952 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

About Hudbay Minerals

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.