StockNews.com Upgrades Hudbay Minerals (NYSE:HBM) to Buy

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Hudbay Minerals Price Performance

HBM stock opened at $8.97 on Friday. The business’s 50-day moving average is $8.58 and its two-hundred day moving average is $8.47. 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 $3.54 billion, a P/E ratio of 38.98 and a beta of 1.74. 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 issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating 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 firm had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Hudbay Minerals will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of HBM. Algert Global LLC acquired a new stake in shares of Hudbay Minerals during the second quarter worth about $111,000. Strong Tower Advisory Services lifted its stake in Hudbay Minerals by 8.0% in the third quarter. Strong Tower Advisory Services now owns 61,842 shares of the mining company’s stock valued at $568,000 after buying an additional 4,599 shares during the last quarter. First Affirmative Financial Network acquired a new stake in shares of Hudbay Minerals in the third quarter valued at approximately $103,000. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals in the 3rd quarter valued at $53,000. Finally, Oliver Luxxe Assets LLC purchased a new stake in Hudbay Minerals in the 3rd quarter valued at $1,187,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.