Hudbay Minerals (NYSE:HBM) Upgraded at StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research note issued to investors on Friday.

Hudbay Minerals Trading Up 4.1 %

NYSE:HBM opened at $9.34 on Friday. Hudbay Minerals has a 52 week low of $4.94 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The firm’s fifty day moving average is $8.58 and its 200-day moving average is $8.48. The firm has a market cap of $3.69 billion, a P/E ratio of 40.59 and a beta of 1.74.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $485.80 million for 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 business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Equities analysts expect that Hudbay Minerals will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northwest & Ethical Investments L.P. raised its holdings in shares of Hudbay Minerals by 0.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock valued at $1,815,000 after purchasing an additional 1,487 shares during the period. Van ECK Associates Corp increased its position in Hudbay Minerals by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after buying an additional 1,960 shares in the last quarter. Sprott Inc. raised its stake in Hudbay Minerals by 3.5% during the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after buying an additional 2,162 shares during the period. MQS Management LLC boosted its holdings in Hudbay Minerals by 8.2% in the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after acquiring an additional 2,592 shares in the last quarter. Finally, FMR LLC grew its stake in Hudbay Minerals by 0.7% in the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after acquiring an additional 2,624 shares during the period. 57.82% of the stock is owned by institutional investors.

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.