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

Key Points

• Wall Street Zen upgraded HudBay Minerals (NYSE:HBM) from a "hold" to a "buy" rating in a recent report.
• MarketBeat shows a consensus of "Moderate Buy" with a $26.00 average price target; several firms (including UBS and Citigroup) have buy ratings, and Citigroup raised its price objective to $32.50.
• In the latest quarter HudBay missed EPS expectations ($0.22 vs. $0.40) but revenue rose 25.3% year-over-year to $732.9 million and the company reported a 25.7% net margin; analysts expect FY EPS of about $0.79.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other research analysts have also commented on HBM. Zacks Research lowered shares of HudBay Minerals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. National Bank Financial downgraded shares of HudBay Minerals from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, January 28th. Weiss Ratings raised shares of HudBay Minerals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 10th. UBS Group began coverage on HudBay Minerals in a research report on Thursday, January 8th. They set a "buy" rating on the stock. Finally, Citigroup increased their price objective on HudBay Minerals from $23.00 to $32.50 and gave the company a "buy" rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, HudBay Minerals presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

HudBay Minerals Price Performance

Shares of HBM stock opened at $21.62 on Friday. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74. The stock's 50-day moving average is $23.58 and its 200 day moving average is $19.67. The company has a market cap of $8.58 billion, a P/E ratio of 15.12, a PEG ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). The company had revenue of $732.90 million during the quarter, compared to analysts' expectations of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. HudBay Minerals's revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. Research analysts predict that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of HudBay Minerals

Several large investors have recently bought and sold shares of HBM. Allworth Financial LP increased its stake in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company's stock valued at $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP acquired a new stake in shares of HudBay Minerals during the third quarter worth $38,000. Global Retirement Partners LLC purchased a new stake in shares of HudBay Minerals during the third quarter valued at $45,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals during the third quarter valued at $45,000. Finally, Banque Cantonale Vaudoise increased its position in shares of HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company's stock valued at $48,000 after acquiring an additional 2,655 shares during the period. Hedge funds and other institutional investors own 57.82% of the company's stock.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company's operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.