StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM - Free Report) TSE: HBM from a hold rating to a buy rating in a research report report published on Friday.
Hudbay Minerals Trading Up 2.6 %
Shares of Hudbay Minerals stock traded up $0.25 on Friday, hitting $9.59. 7,989,502 shares of the company's stock traded hands, compared to its average volume of 5,841,365. The company has a fifty day moving average of $8.60 and a two-hundred day moving average of $8.49. Hudbay Minerals has a one year low of $4.94 and a one year high of $10.49. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 41.68 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analysts' expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. As a group, sell-side analysts expect that Hudbay Minerals will post 0.48 earnings per share for the current year.
Hedge Funds Weigh In On Hudbay Minerals
Large investors have recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals during the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC bought a new position in Hudbay Minerals during the 3rd quarter valued at $53,000. Clear Harbor Asset Management LLC purchased a new position in Hudbay Minerals during the 3rd quarter worth $92,000. Plato Investment Management Ltd bought a new stake in shares of Hudbay Minerals in the 4th quarter worth $95,000. Finally, First Affirmative Financial Network purchased a new stake in shares of Hudbay Minerals in the third quarter valued at about $103,000. 57.82% of the stock is currently owned by institutional investors.
About Hudbay Minerals
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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.
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