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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given an average recommendation of “Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.17.

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday.

Hudbay Minerals Stock Up 4.1 %

HBM stock opened at $9.34 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $8.58 and a 200 day moving average of $8.47. Hudbay Minerals has a twelve month low of $4.94 and a twelve month high of $10.49. The firm has a market cap of $3.69 billion, a PE ratio of 40.59 and a beta of 1.74.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same period last year, the company earned $0.07 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. On average, research analysts forecast that Hudbay Minerals will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its stake in shares of Hudbay Minerals by 13.2% in the fourth quarter. HighTower Advisors LLC now owns 52,042 shares of the mining company’s stock worth $422,000 after acquiring an additional 6,072 shares during the period. Wealth High Governance Capital Ltda boosted its holdings in Hudbay Minerals by 24.4% in the fourth quarter. Wealth High Governance Capital Ltda now owns 248,884 shares of the mining company’s stock worth $2,016,000 after purchasing an additional 48,884 shares during the last quarter. AGF Management Ltd. grew its position in Hudbay Minerals by 96.1% in the 4th quarter. AGF Management Ltd. now owns 1,396,581 shares of the mining company’s stock worth $11,328,000 after purchasing an additional 684,380 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hudbay Minerals by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,344 shares of the mining company’s stock valued at $846,000 after buying an additional 14,540 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. lifted its holdings in shares of Hudbay Minerals by 11.9% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 333,270 shares of the mining company’s stock valued at $2,700,000 after buying an additional 35,370 shares during the period. 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.