BMO Capital Markets assumed coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a report released on Tuesday, The Fly reports. The firm issued an outperform rating on the mining company’s stock.
HBM has been the topic of several other research reports. Zacks Investment Research upgraded Hudbay Minerals from a hold rating to a buy rating and set a $5.00 price target on the stock in a report on Wednesday, December 26th. Barclays started coverage on Hudbay Minerals in a report on Wednesday, October 10th. They set an overweight rating and a $8.00 price target on the stock. Royal Bank of Canada downgraded Hudbay Minerals from an outperform rating to a sector perform rating in a report on Wednesday, December 12th. Credit Suisse Group reiterated a neutral rating on shares of Hudbay Minerals in a report on Monday, September 10th. Finally, Raymond James reiterated a buy rating on shares of Hudbay Minerals in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $6.33.
NYSE:HBM traded up $0.11 during mid-day trading on Tuesday, reaching $5.40. The stock had a trading volume of 37,599 shares, compared to its average volume of 580,674. Hudbay Minerals has a fifty-two week low of $3.44 and a fifty-two week high of $10.25. The company has a market capitalization of $1.37 billion, a P/E ratio of 9.49 and a beta of 2.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.98 and a current ratio of 2.44.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, October 31st. The mining company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Hudbay Minerals had a return on equity of 7.26% and a net margin of 12.29%. The firm had revenue of $362.65 million for the quarter, compared to the consensus estimate of $305.36 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that Hudbay Minerals will post 0.34 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. lifted its position in Hudbay Minerals by 14.8% in the third quarter. Letko Brosseau & Associates Inc. now owns 31,712,001 shares of the mining company’s stock worth $160,449,000 after purchasing an additional 4,093,825 shares during the period. Hexavest Inc. bought a new position in Hudbay Minerals in the third quarter worth $3,386,000. BlackRock Inc. lifted its position in Hudbay Minerals by 131.1% in the second quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock worth $199,000 after purchasing an additional 20,113 shares during the period. Janus Henderson Group PLC bought a new position in Hudbay Minerals in the second quarter worth $850,000. Finally, Assenagon Asset Management S.A. bought a new position in Hudbay Minerals in the third quarter worth $2,076,000. 52.94% of the stock is owned by institutional investors.
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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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