Hudbay Minerals (NYSE:HBM) Raised to “Buy” at StockNews.com

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Hudbay Minerals Trading Down 3.0 %

Shares of HBM opened at $8.25 on Thursday. Hudbay Minerals has a fifty-two week low of $4.94 and a fifty-two week high of $10.49. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 35.88 and a beta of 1.76. The firm has a 50 day moving average price of $8.59 and a 200-day moving average price of $8.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results 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 business had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Hudbay Minerals will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Hudbay Minerals

A number of large investors have recently made changes to their positions in HBM. Mountaineer Partners Management LLC lifted its holdings in 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 worth $94,874,000 after buying an additional 9,166,952 shares during the period. Artemis Investment Management LLP bought a new position in Hudbay Minerals in the third quarter worth $20,907,000. Bank of Montreal Can boosted its holdings in shares of Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after buying an additional 1,441,991 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Hudbay Minerals by 106.8% in the 3rd quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company’s stock worth $23,756,000 after buying an additional 1,334,969 shares during the period. Finally, Donald Smith & CO. Inc. lifted its position in Hudbay Minerals by 31.9% during the 3rd 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 during the period. 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.