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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.17.

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock opened at $8.60 on Tuesday. Hudbay Minerals has a one year low of $4.94 and a one year high of $10.49. The firm 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 simple moving average of $8.67 and a 200 day simple moving average of $8.52. 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 (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business 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 company posted $0.07 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Hudbay Minerals will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently modified their holdings of the business. Mountaineer Partners Management LLC grew its holdings in shares of Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after acquiring an additional 9,166,952 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Hudbay Minerals by 23.1% in the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Hudbay Minerals by 31.9% in the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after acquiring an additional 906,417 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hudbay Minerals by 24.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock valued at $32,084,000 after acquiring an additional 702,170 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Hudbay Minerals by 12.2% in the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock valued at $30,340,000 after acquiring an additional 359,126 shares in the last quarter. 57.82% of the stock is 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.