Hudbay Minerals (NYSE:HBM) Coverage Initiated at BMO Capital Markets

Investment analysts at BMO Capital Markets initiated coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a report released on Wednesday. The firm set an “outperform” rating on the mining company’s stock.

Several other research analysts have also weighed in on HBM. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Desjardins assumed coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They issued a “buy” rating for the company. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $14.00.

Hudbay Minerals Trading Down 0.7 %

HBM stock traded down $0.05 on Wednesday, hitting $7.00. 569,086 shares of the company were exchanged, compared to its average volume of 7,340,771. Hudbay Minerals has a twelve month low of $5.95 and a twelve month high of $10.49. The business’s fifty day moving average is $7.62 and its two-hundred day moving average is $8.42. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 38.91 and a beta of 1.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the previous year, the company earned $0.20 EPS. Hudbay Minerals’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts forecast that Hudbay Minerals will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strong Tower Advisory Services increased its holdings in shares of Hudbay Minerals by 40.3% in the first quarter. Strong Tower Advisory Services now owns 91,524 shares of the mining company’s stock valued at $695,000 after buying an additional 26,294 shares in the last quarter. Pacifica Partners Inc. boosted its holdings in shares of Hudbay Minerals by 1,126.5% in the first quarter. Pacifica Partners Inc. now owns 24,296 shares of the mining company’s stock worth $172,000 after buying an additional 22,315 shares during the period. Polar Asset Management Partners Inc. boosted its stake in Hudbay Minerals by 121.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 1,694,700 shares of the mining company’s stock worth $13,550,000 after purchasing an additional 930,300 shares during the period. Public Employees Retirement System of Ohio raised its position in Hudbay Minerals by 83.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 224,070 shares of the mining company’s stock valued at $1,817,000 after buying an additional 102,179 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in Hudbay Minerals in the fourth quarter valued at approximately $193,000. 57.82% of the stock is currently owned by 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.