Hudbay Minerals Inc. (NYSE:HBM) Receives $11.17 Average PT from Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given an average rating of “Buy” by the six ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds have recently made changes to their positions in the company. Mountaineer Partners Management LLC boosted its position in shares of Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after buying an additional 9,166,952 shares during the period. Regal Partners Ltd acquired a new position in Hudbay Minerals in the second quarter worth approximately $22,956,000. Artemis Investment Management LLP bought a new position in shares of Hudbay Minerals during the 3rd quarter valued at $20,907,000. TD Asset Management Inc raised its holdings in Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after buying an additional 1,935,709 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Hudbay Minerals by 2,521.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after acquiring an additional 1,685,836 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Shares of NYSE HBM opened at $8.28 on Friday. The stock has a fifty day moving average price of $8.94 and a two-hundred day moving average price of $8.57. The firm has a market cap of $3.26 billion, a P/E ratio of 36.00 and a beta of 1.77. Hudbay Minerals has a 1 year low of $4.94 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same quarter last year, the firm posted $0.07 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts forecast that Hudbay Minerals will post 0.55 EPS for the current fiscal year.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.