HudBay Minerals Inc (NYSE:HBM) Given Average Recommendation of "Buy" by Analysts

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM has received an average rating of "Buy" from the five analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.00.

A number of equities analysts recently commented on HBM shares. BMO Capital Markets started coverage on HudBay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Wall Street Zen raised HudBay Minerals from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Stifel Canada raised HudBay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Finally, Desjardins initiated coverage on HudBay Minerals in a research note on Friday, April 4th. They issued a "buy" rating on the stock.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $9.89 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.91 billion, a PE ratio of 26.02, a P/E/G ratio of 0.29 and a beta of 1.60. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $10.07. The stock has a 50-day moving average price of $8.22 and a two-hundred day moving average price of $8.17.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its 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. The firm had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. Analysts expect that HudBay Minerals will post 0.79 EPS for the current year.

Hedge Funds Weigh In On HudBay Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA lifted its stake in HudBay Minerals by 2.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock valued at $538,000 after buying an additional 1,278 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after acquiring an additional 1,481 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of HudBay Minerals by 1.4% during the first quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company's stock valued at $963,000 after acquiring an additional 1,794 shares in the last quarter. Sprott Inc. increased its holdings in shares of HudBay Minerals by 3.5% during the fourth quarter. Sprott Inc. now owns 63,662 shares of the mining company's stock valued at $516,000 after acquiring an additional 2,162 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of HudBay Minerals by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock valued at $589,000 after acquiring an additional 2,740 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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.

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