HudBay Minerals Inc (NYSE:HBM) Given Average Recommendation of “Buy” by Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned a consensus recommendation of “Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $27.00.

HBM has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. National Bankshares cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday.

HudBay Minerals Stock Up 3.2%

Shares of HudBay Minerals stock opened at $27.08 on Thursday. The company has a 50-day simple moving average of $19.99 and a two-hundred day simple moving average of $15.64. 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 has a 52-week low of $5.95 and a 52-week high of $27.10. The stock has a market capitalization of $10.74 billion, a PE ratio of 23.34 and a beta of 1.36.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The business had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was down 28.6% compared to the same quarter last year. On average, analysts anticipate that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its stake in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP bought a new stake in shares of HudBay Minerals in the 3rd quarter worth about $38,000. Global Retirement Partners LLC purchased a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. IFP Advisors Inc bought a new position in shares of HudBay Minerals in the 3rd quarter valued at about $45,000. Finally, Banque Cantonale Vaudoise grew its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,655 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.