Scotiabank lowered shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from an outperform rating to a sector perform rating in a research report report published on Tuesday, FlyOnTheWall reports.
A number of other research firms have also weighed in on HBM. Credit Suisse Group cut their target price on shares of Hudbay Minerals from $11.50 to $8.75 and set an outperform rating for the company in a report on Tuesday, August 6th. Barclays reissued an average rating and issued a $8.00 target price on shares of Hudbay Minerals in a report on Sunday, August 4th. Zacks Investment Research raised shares of Hudbay Minerals from a strong sell rating to a hold rating in a research note on Friday, October 18th. ValuEngine raised shares of Hudbay Minerals from a hold rating to a buy rating in a research note on Friday, November 1st. Finally, CIBC reaffirmed a hold rating and set a $5.00 price objective on shares of Hudbay Minerals in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $7.55.
Shares of HBM stock traded up $0.16 on Tuesday, reaching $3.52. The company’s stock had a trading volume of 1,276,912 shares, compared to its average volume of 736,042. The stock’s fifty day simple moving average is $3.58 and its 200-day simple moving average is $4.36. Hudbay Minerals has a 1 year low of $2.99 and a 1 year high of $7.83. The company has a current ratio of 2.09, a quick ratio of 1.86 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $885.71 million, a price-to-earnings ratio of 9.03 and a beta of 3.05.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, November 11th. The mining company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Hudbay Minerals had a negative net margin of 27.35% and a negative return on equity of 0.71%. The business had revenue of $291.28 million during the quarter, compared to analysts’ expectations of $295.75 million. During the same period last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. Equities research analysts forecast that Hudbay Minerals will post -0.11 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Letko Brosseau & Associates Inc. boosted its stake in Hudbay Minerals by 7.1% during the third quarter. Letko Brosseau & Associates Inc. now owns 37,994,123 shares of the mining company’s stock worth $137,169,000 after buying an additional 2,528,250 shares during the period. Waterton Global Resource Management Inc. boosted its stake in Hudbay Minerals by 6.5% during the second quarter. Waterton Global Resource Management Inc. now owns 33,649,698 shares of the mining company’s stock worth $182,045,000 after buying an additional 2,066,581 shares during the period. Heathbridge Capital Management Ltd. boosted its stake in Hudbay Minerals by 32.6% during the third quarter. Heathbridge Capital Management Ltd. now owns 6,778,215 shares of the mining company’s stock worth $24,465,000 after buying an additional 1,665,500 shares during the period. Vanguard Group Inc. boosted its stake in Hudbay Minerals by 2.2% during the second quarter. Vanguard Group Inc. now owns 6,371,000 shares of the mining company’s stock worth $34,468,000 after buying an additional 137,274 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Hudbay Minerals by 63.7% during the second quarter. Renaissance Technologies LLC now owns 4,183,209 shares of the mining company’s stock worth $22,631,000 after buying an additional 1,628,400 shares during the period. 63.99% 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 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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