HudBay Minerals Inc (NYSE:HBM) Given Average Rating of “Buy” by Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has been assigned an average rating of “Buy” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.50.

A number of equities research analysts have issued reports on the stock. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, October 28th. Bank of America increased their target price on HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th.

Hedge Funds Weigh In On HudBay Minerals

Several large investors have recently bought and sold shares of HBM. Ballentine Partners LLC raised its stake in HudBay Minerals by 29.6% in the first quarter. Ballentine Partners LLC now owns 26,989 shares of the mining company’s stock valued at $205,000 after buying an additional 6,169 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,481 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of HudBay Minerals by 61.9% during the 1st quarter. Allianz Asset Management GmbH now owns 2,492,905 shares of the mining company’s stock worth $18,897,000 after acquiring an additional 952,776 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in HudBay Minerals by 142.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 100,303 shares of the mining company’s stock valued at $761,000 after acquiring an additional 58,999 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in HudBay Minerals by 20.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,927,081 shares of the mining company’s stock valued at $37,353,000 after purchasing an additional 847,934 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Trading Down 0.5%

NYSE:HBM opened at $15.78 on Friday. The company’s 50 day moving average is $15.36 and its 200-day moving average is $11.74. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $17.73. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 21.61 and a beta of 1.58.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted 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 10.73% and a net margin of 13.13%.The firm had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same period in the prior year, the company posted $0.13 earnings per share. HudBay Minerals’s quarterly revenue was down 28.6% on a year-over-year basis. Equities analysts anticipate that HudBay Minerals will post 0.79 EPS for the current year.

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.