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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on 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 research report on Friday, February 7th.

Institutional Trading of Hudbay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Resource Partners LP purchased a new stake in Hudbay Minerals in the fourth quarter valued at about $508,000. The Manufacturers Life Insurance Company boosted its stake in Hudbay Minerals by 11.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,497,369 shares of the mining company’s stock worth $12,162,000 after purchasing an additional 150,710 shares in the last quarter. Decade Renewable Partners LP grew its position in Hudbay Minerals by 56.9% during the 4th quarter. Decade Renewable Partners LP now owns 1,081,767 shares of the mining company’s stock worth $8,762,000 after purchasing an additional 392,250 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Hudbay Minerals during the 4th quarter valued at approximately $211,000. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Hudbay Minerals by 11.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,667,735 shares of the mining company’s stock worth $37,809,000 after buying an additional 464,925 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

HBM stock opened at $9.14 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals has a 1-year low of $5.22 and a 1-year high of $10.49. The business has a 50-day moving average price of $8.61 and a 200 day moving average price of $8.51. The company has a market capitalization of $3.61 billion, a P/E ratio of 39.72 and a beta of 1.74.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. As a group, equities research analysts forecast that Hudbay Minerals will post 0.48 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.