HudBay Minerals Inc (NYSE:HBM) Given Average Rating of "Buy" by Brokerages

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM have earned an average recommendation of "Buy" from the five analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $14.00.

A number of brokerages have issued reports on HBM. BMO Capital Markets began coverage on HudBay Minerals in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Stifel Canada raised HudBay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Desjardins began coverage on HudBay Minerals in a report on Friday, April 4th. They set a "buy" rating for the company. Finally, Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Institutional Investors Weigh In On HudBay Minerals

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of HudBay Minerals during the 4th quarter worth $50,260,000. Millennium Management LLC grew its holdings in shares of HudBay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company's stock worth $46,411,000 after purchasing an additional 4,580,718 shares in the last quarter. L1 Capital Pty Ltd lifted its position in shares of HudBay Minerals by 44.1% during the 1st quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company's stock worth $109,365,000 after buying an additional 4,410,778 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock worth $55,264,000 after buying an additional 4,299,428 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of HudBay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock worth $74,105,000 after buying an additional 4,253,400 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Stock Performance

HBM stock traded down $0.14 during midday trading on Wednesday, hitting $9.59. 7,284,868 shares of the company traded hands, compared to its average volume of 5,281,231. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $10.07. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $8.39 and a 200-day simple moving average of $8.19. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 0.27 and a beta of 1.60.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The company had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same quarter last year, the company posted $0.22 earnings per share. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that HudBay Minerals will post 0.79 earnings per share for the current 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.