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

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

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

Hudbay Minerals Stock Performance

NYSE HBM opened at $8.60 on Tuesday. The firm has a market capitalization of $3.39 billion, a P/E ratio of 37.39 and a beta of 1.76. The firm’s fifty day moving average price is $8.72 and its two-hundred day moving average price is $8.53. Hudbay Minerals has a 1 year low of $4.94 and a 1 year 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.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data 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. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, research analysts anticipate that Hudbay Minerals will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds have recently bought and sold shares of the business. Mountaineer Partners Management LLC increased its position in Hudbay Minerals by 792.5% during the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after acquiring an additional 9,166,952 shares during the period. Bank of Montreal Can increased its position in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after acquiring an additional 1,441,991 shares during the period. Donald Smith & CO. Inc. grew its stake in Hudbay Minerals by 31.9% during the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after buying an additional 906,417 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Hudbay Minerals by 24.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after buying an additional 702,170 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Hudbay Minerals by 12.2% during the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after buying an additional 359,126 shares in the last quarter. 57.82% of the stock is 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.