HudBay Minerals (NYSE:HBM) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating on the mining company’s stock.

HBM has been the subject of a number of other reports. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Citigroup assumed coverage on HudBay Minerals in a report on Monday, December 15th. They set a “buy” rating and a $23.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Bank of America increased their price objective on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $27.00.

HudBay Minerals Price Performance

Shares of HBM opened at $21.57 on Thursday. The company has a market cap of $8.56 billion, a P/E ratio of 18.59 and a beta of 1.36. The stock has a fifty day moving average price of $17.86 and a 200 day moving average price of $14.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $22.12.

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

Institutional Trading of HudBay Minerals

Several institutional investors have recently modified their holdings of the company. Allworth Financial LP boosted its stake in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP acquired a new stake in HudBay Minerals in the 3rd quarter valued at about $38,000. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. IFP Advisors Inc bought a new position in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. Finally, Banque Cantonale Vaudoise grew its stake in shares of HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.