HudBay Minerals (NYSE:HBM) Stock Rating Upgraded by Wall Street Zen

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.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Wednesday.

HBM has been the topic of a number of other research reports. Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Veritas raised HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. The Goldman Sachs Group started coverage on HudBay Minerals in a report on Monday. They set a "buy" rating on the stock. Finally, National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

HudBay Minerals Trading Down 1.3%

NYSE:HBM opened at $13.02 on Wednesday. The firm has a market cap of $5.15 billion, a P/E ratio of 17.84, a PEG ratio of 0.32 and a beta of 1.51. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock's 50 day simple moving average is $10.72 and its 200-day simple moving average is $9.02. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $13.55.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.08. The business had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The business's revenue was up 26.1% on a year-over-year basis. Equities analysts anticipate that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Trading of HudBay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of HudBay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after acquiring an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of HudBay Minerals by 64.6% in 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. Banque Cantonale Vaudoise purchased a new stake in shares of HudBay Minerals in the first quarter valued at $33,000. Jones Financial Companies Lllp lifted its position in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after acquiring an additional 3,733 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of HudBay Minerals in the second quarter valued at $84,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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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