HudBay Minerals Inc (NYSE:HBM) Receives $27.00 Average Price Target from Brokerages

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $27.00.

A number of equities research analysts recently issued reports on HBM shares. Bank of America increased their target price on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Finally, Zacks Research raised HudBay Minerals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th.

Institutional Trading of HudBay Minerals

Several large investors have recently made changes to their positions in HBM. Jones Financial Companies Lllp raised its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. increased its position in HudBay Minerals by 144.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after acquiring an additional 27,944 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of HudBay Minerals by 34.2% during the second quarter. Public Employees Retirement System of Ohio now owns 190,102 shares of the mining company’s stock worth $2,013,000 after purchasing an additional 48,459 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of HudBay Minerals by 8.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 72,195 shares of the mining company’s stock valued at $766,000 after purchasing an additional 5,896 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $23.69 on Thursday. The business has a 50 day simple moving average of $20.41 and a 200 day simple moving average of $15.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The company has a market capitalization of $9.40 billion, a PE ratio of 20.42 and a beta of 1.36. HudBay Minerals has a one year low of $5.95 and a one year high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $346.80 million for the quarter, compared to analyst estimates 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 company earned $0.13 earnings per share. On average, sell-side analysts forecast that HudBay Minerals will post 0.79 EPS for the current fiscal year.

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.