Wall Street Zen Upgrades HudBay Minerals (NYSE:HBM) to Strong-Buy

Key Points

• HudBay Minerals has received an upgrade from Wall Street Zen, moving from a "buy" rating to a "strong-buy" rating.
• Institutional investors have significantly increased their positions in HudBay Minerals, with notable increases from companies such as Tower Research Capital and SBI Securities.
• The company's recent earnings report showed a 26.1% year-over-year revenue increase, with earnings per share exceeding analysts' expectations.

Wall Street Zen upgraded shares of HudBay Minerals (NYSE:HBM - Free Report) TSE: HBM from a buy rating to a strong-buy rating in a report published on Wednesday morning.

Other equities analysts have also recently issued reports about the company. Veritas raised HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. The Goldman Sachs Group assumed coverage on HudBay Minerals in a report on Monday, September 8th. They issued a "buy" rating for the company. Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Finally, CIBC restated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

HudBay Minerals Stock Performance

HudBay Minerals stock traded down $0.03 during trading hours on Wednesday, hitting $13.54. The stock had a trading volume of 5,299,660 shares, compared to its average volume of 4,891,891. The company has a 50-day moving average of $10.88 and a two-hundred day moving average of $9.16. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.36 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51. HudBay Minerals has a fifty-two week low of $5.95 and a fifty-two week high of $13.64.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The company's revenue for the quarter was up 26.1% on a year-over-year basis. On average, equities research analysts anticipate that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.0073 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 17.0%. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's payout ratio is 1.37%.

Institutional Investors Weigh In On HudBay Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. Tower Research Capital LLC TRC boosted 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 bought a new position in HudBay Minerals in the 4th quarter valued at $86,000. Bank of America Corp DE boosted its position in HudBay Minerals by 269.3% in the 4th quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock valued at $19,515,000 after buying an additional 1,756,930 shares during the last quarter. Cetera Investment Advisers boosted its position in HudBay Minerals by 24.3% in the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock valued at $156,000 after buying an additional 3,760 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in HudBay Minerals by 90.5% in the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock valued at $215,000 after buying an additional 12,630 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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.