HudBay Minerals (NYSE:HBM) PT Set at $34.50 by Citigroup

HudBay Minerals (NYSE:HBM) (TSE:HBM) received a $34.50 price target from stock analysts at Citigroup in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Citigroup’s target price points to a potential upside of 66.14% from the stock’s previous close.

HBM has been the subject of a number of other research reports. Bank of America upped their price target on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. UBS Group began coverage on shares of HudBay Minerals in a research note on Thursday. They set a “buy” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Finally, Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.

HudBay Minerals Stock Performance

Shares of NYSE HBM traded down $0.43 during midday trading on Thursday, hitting $20.77. 2,359,972 shares of the company’s stock traded hands, compared to its average volume of 3,938,129. The firm has a fifty day moving average of $17.65 and a 200 day moving average of $14.26. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $22.12. 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 stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.90 and a beta of 1.36.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results 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). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The business had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same quarter last year, the firm posted $0.13 earnings per share. The business’s quarterly revenue was down 28.6% compared to the same quarter last year. On average, analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Waterfront Wealth Inc. raised its holdings in shares of HudBay Minerals by 2.0% in the third quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock valued at $588,000 after acquiring an additional 756 shares in the last quarter. Savant Capital LLC increased its position in HudBay Minerals by 2.4% during the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after purchasing an additional 760 shares during the period. Allworth Financial LP raised its holdings 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 valued at $30,000 after purchasing an additional 1,033 shares in the last quarter. Creative Planning lifted its holdings in HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after buying an additional 1,289 shares during the period. Finally, Pacifica Partners Inc. lifted its stake in shares of HudBay Minerals by 6.7% during the 2nd quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after purchasing an additional 1,625 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

About HudBay Minerals

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.