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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received an average recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers 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 note on Friday, November 15th.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals in the third quarter valued at about $28,000. Exchange Traded Concepts LLC bought a new position in Hudbay Minerals in the third quarter worth about $53,000. Clear Harbor Asset Management LLC purchased a new stake in Hudbay Minerals in the third quarter worth about $92,000. Armistice Capital LLC bought a new stake in Hudbay Minerals during the 2nd quarter valued at approximately $97,000. Finally, First Affirmative Financial Network purchased a new position in shares of Hudbay Minerals during the 3rd quarter worth approximately $103,000. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $8.60 on Tuesday. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 37.39 and a beta of 1.76. The business has a 50 day moving average of $8.67 and a 200 day moving average of $8.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals has a 1-year low of $4.94 and a 1-year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same period in the previous year, the business posted $0.07 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that Hudbay Minerals will post 0.56 earnings per share for the current fiscal year.

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.