Hudbay Minerals (NYSE:HBM) Upgraded to “Strong-Buy” at Stifel Canada

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities research analysts at Stifel Canada to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at $8.35 on Wednesday. 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 company has a market cap of $3.30 billion, a PE ratio of 46.36 and a beta of 1.72. The firm has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $8.49. Hudbay Minerals has a fifty-two week low of $6.42 and a fifty-two week high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Hudbay Minerals will post 0.79 EPS for the current year.

Institutional Trading of Hudbay Minerals

A number of large investors have recently bought and sold shares of HBM. Polar Asset Management Partners Inc. lifted its holdings in Hudbay Minerals by 121.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 1,694,700 shares of the mining company’s stock valued at $13,550,000 after purchasing an additional 930,300 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Hudbay Minerals by 83.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 224,070 shares of the mining company’s stock worth $1,817,000 after purchasing an additional 102,179 shares during the last quarter. Vise Technologies Inc. acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at $193,000. Woodline Partners LP raised its holdings in shares of Hudbay Minerals by 216.5% in the fourth quarter. Woodline Partners LP now owns 2,124,494 shares of the mining company’s stock valued at $17,208,000 after buying an additional 1,453,173 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Hudbay Minerals by 12.6% during the 4th quarter. Two Sigma Advisers LP now owns 783,146 shares of the mining company’s stock worth $6,343,000 after buying an additional 87,500 shares in the last quarter. 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.