Hudbay Minerals (HBM) Upgraded to Outperform by Credit Suisse Group

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Credit Suisse Group upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a neutral rating to an outperform rating in a report released on Monday morning, MarketBeat.com reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Hudbay Minerals from a hold rating to a buy rating and set a $5.00 price objective for the company in a research note on Wednesday, December 26th. BMO Capital Markets restated a buy rating on shares of Hudbay Minerals in a research report on Tuesday, February 19th. ValuEngine upgraded shares of Hudbay Minerals from a sell rating to a hold rating in a research report on Tuesday, January 22nd. Finally, Canaccord Genuity cut shares of Hudbay Minerals from a buy rating to a hold rating in a research report on Wednesday, February 20th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $6.92.

Shares of Hudbay Minerals stock opened at $6.65 on Monday. Hudbay Minerals has a twelve month low of $3.44 and a twelve month high of $7.95. The company has a quick ratio of 2.00, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 7.19 and a beta of 2.90.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Tuesday, February 19th. The mining company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Hudbay Minerals had a net margin of 5.80% and a return on equity of 4.73%. The business had revenue of $351.77 million during the quarter, compared to analysts’ expectations of $306.75 million. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s revenue was down 17.1% on a year-over-year basis. As a group, equities research analysts expect that Hudbay Minerals will post 0.17 EPS for the current fiscal year.

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a $0.008 dividend. This represents a dividend yield of 0.24%. The ex-dividend date is Thursday, March 7th. Hudbay Minerals’s payout ratio is presently 5.13%.

Several large investors have recently modified their holdings of HBM. BlackRock Inc. raised its position in shares of Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock valued at $199,000 after buying an additional 20,113 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in shares of Hudbay Minerals by 49.2% during the 3rd quarter. Regal Investment Advisors LLC now owns 36,930 shares of the mining company’s stock valued at $186,000 after purchasing an additional 12,181 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of Hudbay Minerals by 33.7% during the 3rd quarter. Systematic Financial Management LP now owns 364,170 shares of the mining company’s stock valued at $1,839,000 after purchasing an additional 91,875 shares during the last quarter. Highstreet Asset Management Inc. grew its holdings in shares of Hudbay Minerals by 1,440.1% during the 3rd quarter. Highstreet Asset Management Inc. now owns 90,525 shares of the mining company’s stock valued at $458,000 after purchasing an additional 84,647 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. grew its holdings in shares of Hudbay Minerals by 14.8% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 31,712,001 shares of the mining company’s stock valued at $160,449,000 after purchasing an additional 4,093,825 shares during the last quarter. Institutional investors own 63.82% of the company’s stock.

About Hudbay Minerals

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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