Hudbay Minerals (NYSE:HBM) Upgraded at Stifel Canada

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by stock analysts at Stifel Canada to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Price Performance

NYSE HBM opened at $8.35 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 46.36 and a beta of 1.72. The company has a 50 day simple moving average of $8.15 and a 200-day simple moving average of $8.49. Hudbay Minerals has a 52-week low of $6.42 and a 52-week high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.20 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HBM. Prospera Private Wealth LLC bought a new stake in Hudbay Minerals during the third quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its holdings in shares of Hudbay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after buying an additional 3,062 shares during the period. Algert Global LLC acquired a new position in Hudbay Minerals in the 4th quarter valued at $86,000. Plato Investment Management Ltd bought a new position in Hudbay Minerals in the 4th quarter worth $95,000. Finally, Hsbc Holdings PLC acquired a new position in Hudbay Minerals during the 4th quarter worth $97,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

About Hudbay Minerals

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.