Hudbay Minerals Inc. (NYSE:HBM) Receives Average Recommendation of "Buy" from Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM have earned a consensus recommendation of "Buy" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

A number of brokerages have weighed in on HBM. Scotiabank restated an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Wall Street Zen upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Desjardins initiated coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets initiated coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th.

Hudbay Minerals Stock Up 0.3%

Shares of HBM stock traded up $0.03 during trading hours on Friday, reaching $9.02. The company had a trading volume of 6,054,263 shares, compared to its average volume of 4,900,902. Hudbay Minerals has a twelve month low of $5.95 and a twelve month high of $10.15. The stock's fifty day simple moving average is $7.58 and its 200 day simple moving average is $8.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The company has a market capitalization of $3.56 billion, a P/E ratio of 50.09 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. During the same quarter last year, the firm earned $0.22 EPS. Hudbay Minerals's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Hudbay Minerals during the 4th quarter valued at approximately $50,260,000. Millennium Management LLC boosted its position in Hudbay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company's stock valued at $46,411,000 after purchasing an additional 4,580,718 shares during the period. L1 Capital Pty Ltd boosted its position in 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 valued at $109,365,000 after purchasing an additional 4,410,778 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 valued at $55,264,000 after purchasing an additional 4,299,428 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in 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 valued at $74,105,000 after acquiring an additional 4,253,400 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

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.