HudBay Minerals Inc (NYSE:HBM) Receives Consensus Rating of “Buy” from Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received an average rating of “Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $27.00.

HBM has been the subject of a number of analyst reports. Citigroup set a $34.50 price target on shares of HudBay Minerals and gave the company a “buy” rating in a research report on Thursday. UBS Group assumed coverage on HudBay Minerals in a research report on Thursday. They set a “buy” rating for the company. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th.

HudBay Minerals Trading Up 2.2%

Shares of NYSE:HBM opened at $21.57 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The company has a 50-day simple moving average of $17.86 and a 200 day simple moving average of $14.43. The company has a market capitalization of $8.56 billion, a P/E ratio of 18.59 and a beta of 1.36. HudBay Minerals has a 52-week low of $5.95 and a 52-week high of $22.12.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The business’s revenue was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current year.

Institutional Trading of HudBay Minerals

Several large investors have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of HudBay Minerals by 107.9% during 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 during the last quarter. Quarry LP acquired a new stake in shares of HudBay Minerals in the third quarter valued at about $38,000. Global Retirement Partners LLC acquired a new stake in HudBay Minerals during the 3rd quarter valued at approximately $45,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals in the 3rd quarter valued at $45,000. Finally, Banque Cantonale Vaudoise lifted its holdings in HudBay Minerals by 513.5% in the third 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 and hedge funds 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.