Hudbay Minerals Inc. (NYSE:HBM) Receives Consensus Recommendation of “Buy” from Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given an average rating of “Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings 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, November 15th.

Hudbay Minerals Price Performance

HBM stock opened at $7.91 on Friday. Hudbay Minerals has a 52-week low of $4.94 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 34.39 and a beta of 1.77. The firm has a 50 day moving average price of $9.03 and a 200-day moving average price of $8.60.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. Equities research analysts forecast that Hudbay Minerals will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently modified their holdings of HBM. Prospera Private Wealth LLC bought a new position in Hudbay Minerals during the 3rd quarter valued at about $28,000. Exchange Traded Concepts LLC purchased a new position in shares of Hudbay Minerals during the third quarter valued at approximately $53,000. Clear Harbor Asset Management LLC bought a new position in Hudbay Minerals during the third quarter valued at approximately $92,000. Ritholtz Wealth Management purchased a new stake in Hudbay Minerals in the second quarter worth approximately $96,000. Finally, Armistice Capital LLC bought a new stake in Hudbay Minerals in the 2nd quarter worth approximately $97,000. 57.82% of the stock is owned by hedge funds and other 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.