Hudbay Minerals Inc (NYSE:HBM) Receives Average Rating of “Hold” from Analysts

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.38.

Several research firms have commented on HBM. ValuEngine raised shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. BMO Capital Markets reissued a “market perform” rating on shares of Hudbay Minerals in a research report on Wednesday, May 8th. CIBC reissued a “hold” rating and set a $9.00 target price on shares of Hudbay Minerals in a research report on Sunday, May 12th. Raymond James reissued a “hold” rating and set a $10.50 target price on shares of Hudbay Minerals in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an “average” rating on shares of Hudbay Minerals in a research report on Tuesday, May 7th.

Shares of NYSE HBM traded down $0.13 during mid-day trading on Friday, reaching $3.68. The company had a trading volume of 1,158,264 shares, compared to its average volume of 889,992. Hudbay Minerals has a twelve month low of $3.44 and a twelve month high of $7.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.64 and a quick ratio of 2.14. The firm has a market capitalization of $961.47 million, a PE ratio of 9.44, a PEG ratio of 11.33 and a beta of 2.89. The stock has a 50 day simple moving average of $5.15.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, May 6th. The mining company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $292.30 million for the quarter, compared to the consensus estimate of $314.70 million. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. The business’s quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. Sell-side analysts forecast that Hudbay Minerals will post 0.08 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Letko Brosseau & Associates Inc. increased its position in Hudbay Minerals by 0.7% during the second quarter. Letko Brosseau & Associates Inc. now owns 35,465,873 shares of the mining company’s stock worth $192,426,000 after buying an additional 245,440 shares during the last quarter. Waterton Global Resource Management Inc. grew its position in shares of Hudbay Minerals by 3.6% in the first quarter. Waterton Global Resource Management Inc. now owns 31,583,117 shares of the mining company’s stock valued at $225,503,000 after purchasing an additional 1,109,265 shares during the last quarter. Norges Bank acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $30,291,000. Heathbridge Capital Management Ltd. grew its position in shares of Hudbay Minerals by 4.9% in the second quarter. Heathbridge Capital Management Ltd. now owns 5,112,715 shares of the mining company’s stock valued at $27,698,000 after purchasing an additional 239,715 shares during the last quarter. Finally, Hexavest Inc. grew its position in shares of Hudbay Minerals by 2.4% in the second quarter. Hexavest Inc. now owns 1,566,619 shares of the mining company’s stock valued at $8,500,000 after purchasing an additional 36,929 shares during the last quarter. 64.78% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

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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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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