HudBay Minerals (NYSE:HBM) Upgraded by Zacks Research to Strong-Buy Rating

HudBay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Bank of America raised their price target on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Citigroup set a $34.50 price target on shares of HudBay Minerals and gave the stock a “buy” rating in a research report on Thursday, January 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $27.00.

HudBay Minerals Trading Up 9.7%

Shares of HudBay Minerals stock opened at $24.68 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $24.74. The firm has a market capitalization of $9.79 billion, a PE ratio of 21.28 and a beta of 1.36. The firm’s 50-day moving average price is $18.84 and its 200 day moving average price is $15.06.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The firm had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. During the same quarter last year, the firm posted $0.13 earnings per share. HudBay Minerals’s quarterly revenue was down 28.6% on a year-over-year basis. On average, sell-side analysts predict that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GMT Capital Corp purchased a new stake in shares of HudBay Minerals during the 2nd quarter valued at approximately $337,809,000. Hancock Prospecting Pty Ltd purchased a new position in HudBay Minerals in the second quarter worth approximately $154,359,000. Arrowstreet Capital Limited Partnership acquired a new stake in HudBay Minerals during the third quarter worth $123,736,000. Picton Mahoney Asset Management purchased a new stake in HudBay Minerals in the second quarter valued at $61,432,000. Finally, Norges Bank purchased a new stake in HudBay Minerals in the second quarter valued at $60,053,000. Hedge funds and other institutional investors 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.