Hudbay Minerals (NYSE:HBM) Shares Gap Up – What’s Next?

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) gapped up prior to trading on Tuesday . The stock had previously closed at $8.74, but opened at $8.95. Hudbay Minerals shares last traded at $8.95, with a volume of 315,917 shares.

Analyst Ratings Changes

HBM has been the topic of a number of research reports. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Trading Up 3.1 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The company has a market capitalization of $3.55 billion, a P/E ratio of 38.91 and a beta of 1.77. The company’s fifty day simple moving average is $9.13 and its 200-day simple moving average is $8.68.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. Hudbay Minerals’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Research analysts predict that Hudbay Minerals Inc. will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Hudbay Minerals

A number of large investors have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC grew its position in shares of Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Regal Partners Ltd acquired a new stake in shares of Hudbay Minerals in the 2nd quarter worth $22,956,000. Artemis Investment Management LLP purchased a new position in Hudbay Minerals during the 3rd quarter worth $20,907,000. TD Asset Management Inc increased its position in Hudbay Minerals by 199.4% during the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after buying an additional 1,935,709 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after buying an additional 1,685,836 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.