HudBay Minerals (NYSE:HBM) Earns Buy Rating from Analysts at Citigroup

Research analysts at Citigroup initiated coverage on shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) in a research report issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $23.00 price target on the mining company’s stock. Citigroup’s price target points to a potential upside of 23.93% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Bank of America raised their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, October 28th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Finally, Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $21.25.

HudBay Minerals Trading Down 1.5%

Shares of HBM opened at $18.56 on Monday. HudBay Minerals has a fifty-two week low of $5.95 and a fifty-two week high of $19.30. The business has a 50-day moving average of $16.50 and a 200 day moving average of $13.13. The firm has a market cap of $7.35 billion, a P/E ratio of 16.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data 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 analysts’ expectations of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. HudBay Minerals’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, research analysts forecast that HudBay Minerals will post 0.79 EPS for the current year.

Hedge Funds Weigh In On HudBay Minerals

A number of institutional investors have recently added to or reduced their stakes in the business. Waterfront Wealth Inc. raised its holdings in shares of HudBay Minerals by 2.0% during the third quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock valued at $588,000 after acquiring an additional 756 shares in the last quarter. Savant Capital LLC increased its position in HudBay Minerals by 2.4% during the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after purchasing an additional 760 shares during the period. Allworth Financial LP raised its holdings in HudBay Minerals by 107.9% in the 3rd 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 in the last quarter. Creative Planning lifted its position in shares of HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the period. Finally, Pacifica Partners Inc. lifted its position in shares of HudBay Minerals by 6.7% in the 2nd quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after purchasing an additional 1,625 shares during the period. 57.82% of the stock is currently owned by institutional investors.

About HudBay Minerals

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.