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

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

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets assumed coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Stifel Canada upgraded HudBay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Desjardins assumed coverage on HudBay Minerals in a research note on Friday, April 4th. They set a "buy" rating on the stock. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.00.

HudBay Minerals Price Performance

Shares of NYSE:HBM traded up $0.08 during trading on Friday, reaching $9.76. The stock had a trading volume of 5,697,964 shares, compared to its average volume of 5,291,988. The stock has a market capitalization of $3.85 billion, a PE ratio of 25.67, a P/E/G ratio of 0.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.32 and a quick ratio of 1.92. HudBay Minerals has a 52 week low of $5.95 and a 52 week high of $10.07. The business's 50-day moving average price is $8.45 and its 200 day moving average price is $8.19.

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 (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The firm had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that HudBay Minerals will post 0.79 earnings per share for the current year.

Institutional Trading of HudBay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of HudBay Minerals in the 4th quarter worth $183,000. Guggenheim Capital LLC acquired a new position in shares of HudBay Minerals during the 4th quarter worth about $186,000. Alliancebernstein L.P. grew its position in shares of HudBay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock worth $589,000 after buying an additional 2,740 shares during the period. Barclays PLC increased its stake in shares of HudBay Minerals by 7.9% in the 4th quarter. Barclays PLC now owns 93,286 shares of the mining company's stock valued at $756,000 after acquiring an additional 6,811 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of HudBay Minerals in the 4th quarter valued at approximately $133,000. Institutional investors 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.