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

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

A number of other research firms have also weighed in on HBM. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Finally, Citigroup increased their price target on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, HudBay Minerals has a consensus rating of “Moderate Buy” and an average price target of $26.00.

HudBay Minerals Stock Down 0.1%

NYSE HBM opened at $21.62 on Friday. The business has a fifty day moving average price of $23.58 and a 200 day moving average price of $19.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. The company has a market cap of $8.58 billion, a P/E ratio of 15.12, a P/E/G ratio of 0.30 and a beta of 1.41. HudBay Minerals has a one year low of $5.95 and a one year high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The business had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. During the same period last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. Research analysts anticipate that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Trading of HudBay Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in HBM. Allworth Financial LP raised its position in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares during the period. Quarry LP purchased a new position in HudBay Minerals in the third quarter worth approximately $38,000. Global Retirement Partners LLC acquired a new stake in HudBay Minerals during the third quarter worth $45,000. IFP Advisors Inc purchased a new stake in HudBay Minerals in the third quarter valued at $45,000. Finally, Banque Cantonale Vaudoise raised its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. Institutional investors and hedge funds 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.