HudBay Minerals (NYSE:HBM) Upgraded by Wall Street Zen to "Strong-Buy" Rating

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

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

HudBay Minerals Stock Down 1.4%

Shares of HBM opened at $9.59 on Friday. The company's 50-day simple moving average is $8.39 and its 200-day simple moving average is $8.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $10.07. The stock has a market capitalization of $3.79 billion, a PE ratio of 25.22, a P/E/G ratio of 0.28 and a beta of 1.60.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. Analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HudBay Minerals

Several hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA increased its stake in HudBay Minerals by 2.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock valued at $538,000 after purchasing an additional 1,278 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after acquiring an additional 1,481 shares during the last quarter. Federated Hermes Inc. grew its position in shares of HudBay Minerals by 1.4% during the first quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company's stock worth $963,000 after acquiring an additional 1,794 shares during the last quarter. Sprott Inc. grew its position in shares of HudBay Minerals by 3.5% during the fourth quarter. Sprott Inc. now owns 63,662 shares of the mining company's stock worth $516,000 after acquiring an additional 2,162 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of HudBay Minerals by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock worth $589,000 after acquiring an additional 2,740 shares during the last quarter. 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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