Royal Bank of Canada restated their average rating on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report report published on Tuesday morning, AnalystRatings.com reports.
Several other analysts also recently issued reports on the company. Canaccord Genuity upgraded Hudbay Minerals from a hold rating to a buy rating in a report on Tuesday. ValuEngine downgraded Hudbay Minerals from a buy rating to a hold rating in a research note on Wednesday, April 24th. Raymond James restated an average rating and set a $10.50 target price on shares of Hudbay Minerals in a research note on Thursday, April 18th. Credit Suisse Group upgraded Hudbay Minerals from a neutral rating to an outperform rating in a research note on Monday, March 11th. Finally, BMO Capital Markets reaffirmed a buy rating on shares of Hudbay Minerals in a research report on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Hudbay Minerals has a consensus rating of Hold and an average target price of $7.81.
Shares of NYSE HBM opened at $5.38 on Tuesday. Hudbay Minerals has a 12-month low of $3.44 and a 12-month high of $7.83. The firm has a market capitalization of $1.41 billion, a P/E ratio of 13.79, a P/E/G ratio of 4.81 and a beta of 2.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.64 and a quick ratio of 2.00.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The firm had revenue of $292.30 million during the quarter, compared to the consensus estimate of $314.70 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. On average, analysts forecast that Hudbay Minerals will post 0.21 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund bought a new position in Hudbay Minerals in the fourth quarter worth about $33,000. National Asset Management Inc. acquired a new position in shares of Hudbay Minerals during the fourth quarter valued at approximately $60,000. Ramsey Quantitative Systems acquired a new position in shares of Hudbay Minerals during the fourth quarter valued at approximately $60,000. Wells Fargo & Company MN increased its stake in shares of Hudbay Minerals by 357.4% during the first quarter. Wells Fargo & Company MN now owns 8,562 shares of the mining company’s stock valued at $61,000 after acquiring an additional 6,690 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of Hudbay Minerals during the fourth quarter valued at approximately $86,000. 67.52% of the stock is currently owned by hedge funds and other 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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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