HudBay Minerals Inc (NYSE:HBM) Receives Average Recommendation of “Moderate Buy” from Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.00.

A number of equities research analysts have issued reports on the company. Natl Bk Canada cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. UBS Group assumed coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Finally, Bank of America raised their price target on shares of HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research note on Thursday, October 16th.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $24.10 on Thursday. 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 $28.74. The company has a fifty day moving average price of $20.58 and a two-hundred day moving average price of $15.99. The company has a market cap of $9.56 billion, a PE ratio of 20.77 and a beta of 1.33.

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

Institutional Trading of HudBay Minerals

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

HudBay Minerals Company Profile

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.