Hudbay Minerals Inc. (NYSE:HBM) Receives Consensus Rating of "Buy" from Brokerages

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM has earned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.17.

Separately, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th.

Hedge Funds Weigh In On Hudbay Minerals

Large investors have recently modified their holdings of the company. Mountaineer Partners Management LLC grew its stake in shares of Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Hudbay Minerals during the third quarter valued at about $20,907,000. Cubist Systematic Strategies LLC lifted its holdings in Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company's stock worth $15,861,000 after buying an additional 1,685,836 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Hudbay Minerals during the second quarter valued at approximately $14,718,000. Finally, D. E. Shaw & Co. Inc. grew its stake in Hudbay Minerals by 158.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,648,536 shares of the mining company's stock worth $23,970,000 after purchasing an additional 1,624,900 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Trading Up 2.0 %

Hudbay Minerals stock traded up $0.17 during mid-day trading on Tuesday, hitting $8.78. 1,347,550 shares of the stock were exchanged, compared to its average volume of 4,872,989. The firm's fifty day simple moving average is $8.72 and its two-hundred day simple moving average is $8.53. 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 has a 12 month low of $4.94 and a 12 month high of $10.49. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 38.18 and a beta of 1.76.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analyst estimates 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 business earned $0.07 earnings per share. Analysts forecast that Hudbay Minerals will post 0.55 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.