Hudbay Minerals Inc. (NYSE:HBM) Given Average Recommendation of “Buy” by Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have received an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $9.14 on Friday. Hudbay Minerals has a twelve month low of $5.22 and a twelve month high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.61 billion, a PE ratio of 39.72 and a beta of 1.74. The company’s 50 day moving average is $8.61 and its 200 day moving average is $8.51.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 earnings per share. On average, sell-side analysts forecast that Hudbay Minerals will post 0.48 EPS for the current year.

Institutional Trading of Hudbay Minerals

A number of large investors have recently modified their holdings of HBM. Vanguard Group Inc. increased its position in shares of Hudbay Minerals by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company’s stock valued at $123,852,000 after purchasing an additional 255,191 shares during the last quarter. Invesco Ltd. grew its stake in shares of Hudbay Minerals by 2.7% during the fourth quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company’s stock worth $95,708,000 after purchasing an additional 314,619 shares in the last quarter. Mountaineer Partners Management LLC increased its holdings in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Hudbay Minerals by 86.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock valued at $74,105,000 after buying an additional 4,253,400 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Hudbay Minerals by 4.9% during the 4th quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company’s stock worth $65,342,000 after buying an additional 374,258 shares during the last quarter. Hedge funds and other 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.