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

Key Points

• HudBay Minerals has been upgraded to a "strong-buy" rating by Wall Street Zen, reflecting increased analyst confidence in the company's stock.
• The mining company reported a quarterly earnings per share (EPS) of $0.19, exceeding analysts' expectations, and marked a revenue increase of 26.1% year-over-year.
• Institutional investors have significantly increased their positions in HudBay Minerals, with notable investments including GMT Capital Corp and Hancock Prospecting Pty Ltd.

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

Several other brokerages also recently commented on HBM. National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy".

HudBay Minerals Stock Performance

HBM traded up $0.22 during trading on Monday, reaching $12.02. 4,350,127 shares of the company were exchanged, compared to its average volume of 6,911,278. The stock has a market cap of $4.75 billion, a P/E ratio of 16.46, a PEG ratio of 0.29 and a beta of 1.63. The firm has a 50 day moving average of $10.39 and a 200 day moving average of $8.81. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. HudBay Minerals has a 52 week low of $5.95 and a 52 week high of $12.10.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. The company had revenue of $536.40 million during 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 company's revenue for the quarter was up 26.1% compared to the same quarter last year. On average, sell-side analysts forecast that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Trading of HudBay Minerals

Several large investors have recently made changes to their positions in HBM. Tower Research Capital LLC TRC boosted its stake in shares of HudBay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after acquiring an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of HudBay Minerals by 64.6% during the 1st 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 in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of HudBay Minerals during the 1st quarter worth about $33,000. Jones Financial Companies Lllp boosted its stake in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after acquiring an additional 3,733 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of HudBay Minerals during the 2nd quarter worth about $84,000. Institutional investors own 57.82% of the company's stock.

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.