HudBay Minerals (NYSE:HBM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on HBM. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Citigroup set a $34.50 price target on shares of HudBay Minerals and gave the stock a “buy” rating in a research note on Thursday, January 8th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Bank of America lifted their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $27.00.

HudBay Minerals Trading Up 9.7%

HudBay Minerals stock opened at $24.68 on Monday. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $24.74. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.79 billion, a P/E ratio of 21.28 and a beta of 1.36. The company’s fifty day simple moving average is $18.84 and its 200-day simple moving average is $15.06.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The firm had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. HudBay Minerals’s revenue was down 28.6% on a year-over-year basis. As a group, sell-side analysts forecast that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Trading of HudBay Minerals

Several large investors have recently modified their holdings of HBM. Jones Financial Companies Lllp raised its holdings in HudBay Minerals by 131.6% in 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 during the period. Goldman Sachs Group Inc. grew its position in shares of HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after purchasing an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after purchasing an additional 27,944 shares during the period. Clear Harbor Asset Management LLC increased its stake in shares of HudBay Minerals by 66.0% in the second quarter. Clear Harbor Asset Management LLC now owns 16,600 shares of the mining company’s stock worth $176,000 after purchasing an additional 6,600 shares during the period. Finally, Ballentine Partners LLC lifted its position in shares of HudBay Minerals by 10.3% during the 2nd quarter. Ballentine Partners LLC now owns 29,757 shares of the mining company’s stock worth $316,000 after purchasing an additional 2,768 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

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.