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

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have earned an average recommendation of “Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $10.21.

Several analysts have issued reports on HBM shares. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Jefferies Financial Group initiated coverage on shares of Hudbay Minerals in a research report on Friday, May 3rd. They issued a “hold” rating and a $13.00 price objective on the stock. Raymond James upped their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, April 9th. Finally, National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $9.56 on Friday. The company’s fifty day simple moving average is $9.16 and its 200-day simple moving average is $7.20. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.76 billion, a PE ratio of 41.57 and a beta of 1.82. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The business had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. Equities research analysts expect that Hudbay Minerals will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its stake in shares of Hudbay Minerals by 475.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after purchasing an additional 3,802,687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Hudbay Minerals in the 4th quarter worth about $14,618,000. Invesco Ltd. raised its position in shares of Hudbay Minerals by 60.2% in the 3rd quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after acquiring an additional 2,630,780 shares in the last quarter. L1 Capital Pty Ltd grew its stake in shares of Hudbay Minerals by 15.1% in the 3rd quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after buying an additional 2,141,437 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Hudbay Minerals by 28.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after buying an additional 2,085,641 shares during the period. 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.