HudBay Minerals Inc (NYSE:HBM) Given Consensus Rating of “Buy” by Brokerages

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been given an average recommendation of “Buy” by the fifteen research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.25.

HBM has been the topic of several recent research reports. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Friday, October 10th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Finally, Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th.

Hedge Funds Weigh In On HudBay Minerals

Large investors have recently added to or reduced their stakes in the company. GMT Capital Corp acquired a new position in shares of HudBay Minerals in the 2nd quarter valued at about $337,809,000. Vanguard Group Inc. increased its position in HudBay Minerals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after acquiring an additional 373,399 shares during the period. L1 Capital Pty Ltd raised its stake in HudBay Minerals by 4.4% during the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after acquiring an additional 630,703 shares in the last quarter. Hancock Prospecting Pty Ltd bought a new stake in HudBay Minerals during the 2nd quarter valued at $154,359,000. Finally, Invesco Ltd. grew its stake in shares of HudBay Minerals by 0.4% in the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after purchasing an additional 46,948 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $20.09 on Friday. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $20.69. The stock’s 50-day moving average is $17.33 and its 200-day moving average is $14.02. 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 cap of $7.97 billion, a price-to-earnings ratio of 17.32 and a beta of 1.36.

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 business had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.HudBay Minerals’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Equities analysts anticipate that HudBay Minerals will post 0.79 earnings per share for the current year.

About HudBay Minerals

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.