Wall Street Zen Upgrades Hudbay Minerals (NYSE:HBM) to Buy

Wall Street Zen upgraded shares of Hudbay Minerals (NYSE:HBM - Free Report) TSE: HBM from a hold rating to a buy rating in a research report report published on Thursday.

Several other research analysts have also commented on the stock. Scotiabank reissued an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Desjardins started coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets started coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $14.00.

Hudbay Minerals Trading Up 3.9%

HBM stock traded up $0.33 during mid-day trading on Thursday, hitting $8.81. 5,754,774 shares of the company were exchanged, compared to its average volume of 4,876,566. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.48 billion, a P/E ratio of 48.95 and a beta of 1.56. The business has a fifty day simple moving average of $7.56 and a 200-day simple moving average of $8.12. Hudbay Minerals has a 12-month low of $5.95 and a 12-month high of $10.15.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.14. The company had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. Hudbay Minerals's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts predict that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mudita Advisors LLP raised its holdings in Hudbay Minerals by 73.8% in the first quarter. Mudita Advisors LLP now owns 353,305 shares of the mining company's stock valued at $2,680,000 after acquiring an additional 150,000 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Hudbay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company's stock valued at $3,337,000 after acquiring an additional 27,944 shares in the last quarter. Woodline Partners LP raised its holdings in Hudbay Minerals by 5.9% in the first quarter. Woodline Partners LP now owns 2,250,425 shares of the mining company's stock valued at $17,081,000 after acquiring an additional 125,931 shares in the last quarter. Yaupon Capital Management LP raised its holdings in Hudbay Minerals by 21.9% in the first quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company's stock valued at $13,490,000 after acquiring an additional 318,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Hudbay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock valued at $55,264,000 after acquiring an additional 4,299,428 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

About Hudbay Minerals

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.