Hudbay Minerals Inc (HBM) Receives $7.00 Average Price Target from Brokerages

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) has been assigned an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.00.

HBM has been the subject of several recent research reports. Bank of America initiated coverage on shares of Hudbay Minerals in a research report on Tuesday, August 14th. They set a “neutral” rating and a $6.00 target price for the company. ValuEngine upgraded shares of Hudbay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. Credit Suisse Group restated a “neutral” rating on shares of Hudbay Minerals in a research report on Monday, September 10th. Zacks Investment Research upgraded shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Barclays initiated coverage on shares of Hudbay Minerals in a research report on Wednesday, October 10th. They set an “overweight” rating and a $8.00 target price for the company.

NYSE HBM traded up $0.22 during trading hours on Thursday, hitting $5.05. 1,568,520 shares of the company’s stock traded hands, compared to its average volume of 806,884. The company has a current ratio of 2.15, a quick ratio of 1.70 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.28 and a beta of 2.96. Hudbay Minerals has a 52 week low of $3.44 and a 52 week high of $10.25.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, October 31st. The mining company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $362.65 million during the quarter, compared to analyst estimates of $305.36 million. Hudbay Minerals had a net margin of 12.29% and a return on equity of 7.30%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 earnings per share. Sell-side analysts predict that Hudbay Minerals will post 0.29 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in HBM. Regal Investment Advisors LLC bought a new position in shares of Hudbay Minerals in the second quarter worth approximately $139,000. BlackRock Inc. boosted its position in shares of 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. Quantitative Systematic Strategies LLC bought a new position in shares of Hudbay Minerals in the second quarter worth approximately $228,000. Covalis Capital LLP bought a new position in shares of Hudbay Minerals in the second quarter worth approximately $329,000. Finally, Jane Street Group LLC bought a new position in shares of Hudbay Minerals in the first quarter worth approximately $344,000. Institutional investors own 58.07% of the company’s stock.

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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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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