HudBay Minerals Inc (NYSE:HBM) Receives Consensus Rating of “Buy” from Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned a consensus rating of “Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $14.00.

A number of equities research analysts have commented on HBM shares. Wall Street Zen raised shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BMO Capital Markets started coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Stifel Canada raised shares of HudBay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Desjardins began coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They set a “buy” rating for the company.

HudBay Minerals Trading Down 1.4%

NYSE:HBM opened at $9.59 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $10.07. The company has a market cap of $3.79 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.27 and a beta of 1.60. The company has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $8.19.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. Research analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On HudBay Minerals

A number of hedge funds have recently modified their holdings of the business. Pictet Asset Management Holding SA grew its position in shares of HudBay Minerals by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after acquiring an additional 1,278 shares during the period. SBI Securities Co. Ltd. grew its position in shares of HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after acquiring an additional 1,481 shares during the period. Federated Hermes Inc. grew its position in shares of HudBay Minerals by 1.4% during the 1st quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company’s stock valued at $963,000 after acquiring an additional 1,794 shares during the period. Sprott Inc. grew its position in shares of HudBay Minerals by 3.5% during the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock valued at $516,000 after acquiring an additional 2,162 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of HudBay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock valued at $589,000 after acquiring an additional 2,740 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

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.