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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $11.17.

HBM has been the subject of a number of recent analyst reports. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th.

Hudbay Minerals Price Performance

Shares of HBM opened at $8.94 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $9.12 and its 200 day simple moving average is $8.70. Hudbay Minerals has a 1-year low of $4.41 and a 1-year high of $10.49. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 38.87 and a beta of 1.78.

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

Institutional Trading of Hudbay Minerals

Several institutional investors have recently added to or reduced their stakes in HBM. Prospera Private Wealth LLC acquired a new position in shares of Hudbay Minerals during the 3rd quarter worth approximately $28,000. Exchange Traded Concepts LLC acquired a new stake in Hudbay Minerals during the third quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new position in Hudbay Minerals during the 3rd quarter worth $92,000. Ritholtz Wealth Management acquired a new position in Hudbay Minerals in the 2nd quarter valued at $96,000. Finally, Armistice Capital LLC bought a new stake in shares of Hudbay Minerals during the 2nd quarter valued at $97,000. 57.82% of the stock is currently owned by institutional investors.

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.