StockNews.com Upgrades Hudbay Minerals (NYSE:HBM) to Buy

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also recently weighed in on HBM. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

Shares of NYSE:HBM traded down $0.01 during midday trading on Friday, hitting $8.52. The company had a trading volume of 2,600,431 shares, compared to its average volume of 3,117,713. The business’s 50-day simple moving average is $8.79 and its 200-day simple moving average is $8.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 37.05 and a beta of 1.78. Hudbay Minerals has a twelve month low of $4.27 and a twelve month high of $10.49.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently made changes to their positions in the business. Mountaineer Partners Management LLC boosted 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 valued at $94,874,000 after purchasing an additional 9,166,952 shares during the period. Vanguard Group Inc. boosted its position in Hudbay Minerals by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after buying an additional 272,635 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares in the last quarter. Condire Management LP increased its position in shares of Hudbay Minerals by 4.2% during the first quarter. Condire Management LP now owns 4,226,553 shares of the mining company’s stock worth $29,586,000 after acquiring an additional 169,310 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in shares of Hudbay Minerals by 31.9% in the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after acquiring an additional 906,417 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.