Wall Street Zen Upgrades HudBay Minerals (NYSE:HBM) to “Buy”

HudBay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Bank of America lowered their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Finally, Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Trading Up 0.2%

Shares of HudBay Minerals stock opened at $20.39 on Monday. The stock has a market cap of $9.06 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.30 and a beta of 1.48. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. HudBay Minerals has a 12-month low of $8.93 and a 12-month high of $32.15. The business’s 50 day moving average is $25.26 and its 200-day moving average is $24.04.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. Equities research analysts predict that HudBay Minerals will post 1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its stake in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP bought a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $38,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $45,000. Banque Cantonale Vaudoise boosted its position in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.