HudBay Minerals (NYSE:HBM) Raised to Strong-Buy at Wall Street Zen

HudBay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

HBM has been the subject of a number of other reports. The Goldman Sachs Group assumed coverage on HudBay Minerals in a research report on Monday. They issued a “buy” rating for the company. National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Veritas upgraded HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. Finally, CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

HudBay Minerals Stock Up 0.8%

Shares of HBM stock opened at $13.57 on Wednesday. The stock has a 50 day moving average of $10.82 and a 200 day moving average of $9.09. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.37 billion, a P/E ratio of 18.59, a P/E/G ratio of 0.33 and a beta of 1.51. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $13.64.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. The company had revenue of $536.40 million during the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm’s quarterly revenue was up 26.1% on a year-over-year basis. As a group, sell-side analysts expect that HudBay Minerals will post 0.79 EPS for the current year.

Hedge Funds Weigh In On HudBay Minerals

Several large investors have recently modified their holdings of HBM. Tower Research Capital LLC TRC lifted its stake in shares of HudBay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of HudBay Minerals in the 1st quarter valued at $33,000. Jones Financial Companies Lllp raised its holdings in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in shares of HudBay Minerals in the 2nd quarter valued at $84,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.