Weiss Ratings Reaffirms Buy (B-) Rating for HudBay Minerals (NYSE:HBM)

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM's stock had its "buy (b-)" rating reaffirmed by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on HBM. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. The Goldman Sachs Group started coverage on HudBay Minerals in a report on Monday, September 8th. They issued a "buy" rating for the company. Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 10th. Veritas raised HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy".

HudBay Minerals Stock Performance

Shares of HBM stock opened at $17.14 on Wednesday. The stock has a fifty day moving average price of $12.49 and a 200 day moving average price of $10.03. The stock has a market cap of $6.79 billion, a PE ratio of 23.48 and a beta of 1.55. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $17.21. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03.

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

Institutional Investors Weigh In On HudBay Minerals

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in HudBay Minerals by 64.6% during 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 during the period. Banque Cantonale Vaudoise purchased a new stake in HudBay Minerals during the first quarter valued at about $33,000. Jones Financial Companies Lllp lifted its stake in shares of HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of HudBay Minerals during the second quarter worth about $84,000. Finally, Headlands Technologies LLC acquired a new position in shares of HudBay Minerals during the first quarter worth about $92,000. Hedge funds and other 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.

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