Hudbay Minerals (NYSE:HBM) Coverage Initiated at Desjardins

Equities researchers at Desjardins assumed coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “buy” rating on the mining company’s stock.

HBM has been the subject of a number of other research reports. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.50.

Hudbay Minerals Trading Down 11.5 %

Shares of Hudbay Minerals stock opened at $6.30 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The stock’s 50 day simple moving average is $7.94 and its 200-day simple moving average is $8.53. The stock has a market cap of $2.49 billion, a P/E ratio of 34.97 and a beta of 1.72. Hudbay Minerals has a 1-year low of $6.04 and a 1-year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. During the same period last year, the firm posted $0.20 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that Hudbay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after acquiring an additional 3,062 shares during the last quarter. Algert Global LLC purchased a new position in shares of Hudbay Minerals during the 4th quarter worth approximately $86,000. Plato Investment Management Ltd acquired a new stake in Hudbay Minerals in the 4th quarter valued at approximately $95,000. Hsbc Holdings PLC purchased a new stake in Hudbay Minerals in the fourth quarter valued at approximately $97,000. Finally, Advisory Services Network LLC acquired a new position in Hudbay Minerals during the fourth quarter worth $101,000. 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.