Hudbay Minerals (NYSE:HBM) Upgraded to “Buy” at StockNews.com

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

Hudbay Minerals Trading Up 4.1 %

HBM opened at $9.34 on Friday. Hudbay Minerals has a twelve month low of $4.94 and a twelve month high of $10.49. The company has a fifty day moving average of $8.58 and a 200-day moving average of $8.47. The stock has a market cap of $3.69 billion, a PE ratio of 40.59 and a beta of 1.74. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS. On average, sell-side analysts predict that Hudbay Minerals will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently modified their holdings of the business. Algert Global LLC acquired a new position in shares of Hudbay Minerals during the 2nd quarter valued at $111,000. Strong Tower Advisory Services increased its stake in Hudbay Minerals by 8.0% in the third quarter. Strong Tower Advisory Services now owns 61,842 shares of the mining company’s stock valued at $568,000 after purchasing an additional 4,599 shares in the last quarter. First Affirmative Financial Network acquired a new position in shares of Hudbay Minerals during the third quarter valued at about $103,000. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals during the 3rd quarter worth about $53,000. Finally, Oliver Luxxe Assets LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter valued at about $1,187,000. 57.82% of the stock is currently owned by institutional investors.

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.