Hudbay Minerals (NYSE:HBM) Stock Rating Upgraded by StockNews.com

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

Hudbay Minerals Stock Up 4.1 %

Shares of NYSE HBM opened at $9.34 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $8.47. The stock has a market capitalization of $3.69 billion, a P/E ratio of 40.59 and a beta of 1.74. Hudbay Minerals has a 1 year low of $4.94 and a 1 year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The business 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 company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. On average, equities research analysts forecast that Hudbay Minerals will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Several large investors have recently bought and sold shares of HBM. Prospera Private Wealth LLC purchased a new stake in shares of Hudbay Minerals in the third quarter valued at about $28,000. Exchange Traded Concepts LLC bought a new stake in Hudbay Minerals in the 3rd quarter worth about $53,000. Clear Harbor Asset Management LLC purchased a new stake in Hudbay Minerals in the 3rd quarter valued at about $92,000. Plato Investment Management Ltd bought a new position in shares of Hudbay Minerals during the 4th quarter worth approximately $95,000. Finally, First Affirmative Financial Network purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth approximately $103,000. 57.82% of the stock is currently owned by institutional investors.

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.