Hudbay Minerals (NYSE:HBM) Now Covered by BMO Capital Markets

Analysts at BMO Capital Markets started coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a note issued to investors on Wednesday. The brokerage set an “outperform” rating on the mining company’s stock.

Several other research analysts have also recently commented on HBM. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Desjardins began coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a “buy” rating for the company. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Hudbay Minerals Trading Down 0.7 %

Shares of NYSE:HBM traded down $0.05 during mid-day trading on Wednesday, reaching $7.00. 569,086 shares of the company were exchanged, compared to its average volume of 7,340,771. The firm’s 50-day simple moving average is $7.62 and its 200 day simple moving average is $8.42. Hudbay Minerals has a 1 year low of $5.95 and a 1 year high of $10.49. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 38.91 and a beta of 1.62. 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 (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. During the same quarter last year, the company earned $0.20 earnings per share. Hudbay Minerals’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Hudbay Minerals will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HBM. Tower Research Capital LLC TRC grew its position in Hudbay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after buying an additional 3,062 shares during the last quarter. Algert Global LLC purchased a new stake in Hudbay Minerals in the 4th quarter valued at approximately $86,000. Plato Investment Management Ltd acquired a new stake in shares of Hudbay Minerals in the 4th quarter valued at approximately $95,000. Hsbc Holdings PLC acquired a new position in Hudbay Minerals during the fourth quarter worth $97,000. Finally, Advisory Services Network LLC purchased a new position in Hudbay Minerals in the fourth quarter worth $101,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.