Hudbay Minerals (NYSE:HBM) Upgraded by StockNews.com to Buy Rating

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $8.26 on Thursday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 35.93 and a beta of 1.76. The business has a 50 day moving average of $8.62 and a 200 day moving average of $8.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals has a 1-year low of $4.94 and a 1-year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, sell-side analysts predict that Hudbay Minerals will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBM. Mountaineer Partners Management LLC boosted its position in Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares during the period. Bank of Montreal Can increased its position in shares of Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after buying an additional 1,441,991 shares during the period. Donald Smith & CO. Inc. raised its stake in Hudbay Minerals by 31.9% in the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after buying an additional 906,417 shares in the last quarter. Jennison Associates LLC lifted its holdings in Hudbay Minerals by 12.2% in the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after buying an additional 359,126 shares during the period. Finally, Regal Partners Ltd grew its stake in Hudbay Minerals by 5.4% in the third quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock worth $24,570,000 after purchasing an additional 136,943 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.