Zacks Research Upgrades HudBay Minerals (NYSE:HBM) to “Strong-Buy”

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

A number of other brokerages also recently commented on HBM. Citigroup set a $34.50 price target on shares of HudBay Minerals and gave the stock a “buy” rating in a report on Thursday, January 8th. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday, January 8th. They issued a “buy” rating for the company. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $27.00.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $24.68 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The business’s fifty day moving average price is $18.84 and its two-hundred day moving average price is $15.06. The stock has a market cap of $9.79 billion, a PE ratio of 21.28 and a beta of 1.36. HudBay Minerals has a one year low of $5.95 and a one year high of $24.74.

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

Institutional Trading of HudBay Minerals

A number of hedge funds have recently made changes to their positions in HBM. Waterfront Wealth Inc. raised its stake in shares of HudBay Minerals by 2.0% during the third quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock valued at $588,000 after purchasing an additional 756 shares in the last quarter. Savant Capital LLC raised its position in shares of HudBay Minerals by 2.4% during the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after buying an additional 760 shares in the last quarter. Allworth Financial LP lifted its stake in shares of HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the period. Creative Planning boosted its holdings in shares of HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Strong Tower Advisory Services increased its stake in shares of HudBay Minerals by 2.4% during the third quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock valued at $1,428,000 after acquiring an additional 2,182 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

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.