Scotiabank reissued their outperform rating on shares of HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM) in a research report sent to investors on Thursday. Scotiabank currently has a $8.75 price target on the mining company’s stock, up from their prior price target of $7.75.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of HudBay Minerals from a buy rating to a sell rating in a report on Monday, October 17th. RBC Capital Markets reaffirmed an outperform rating and issued a $7.50 price target (up from $7.00) on shares of HudBay Minerals in a report on Thursday, November 3rd. Canaccord Genuity reaffirmed a buy rating and issued a $6.75 price target (down from $7.50) on shares of HudBay Minerals in a report on Monday, October 24th. Barclays PLC reaffirmed an underweight rating and issued a $7.00 price target (up from $5.00) on shares of HudBay Minerals in a report on Sunday, November 20th. Finally, BMO Capital Markets raised shares of HudBay Minerals from a market perform rating to an outperform rating and set a $7.00 price target for the company in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $7.62.

Analyst Recommendations for HudBay Minerals (NYSE:HBM)

HudBay Minerals (NYSE:HBM) opened at 6.90 on Thursday. HudBay Minerals has a one year low of $1.56 and a one year high of $7.10. The firm has a 50-day moving average of $4.89 and a 200-day moving average of $4.57. The stock’s market capitalization is $1.63 billion.

HudBay Minerals (NYSE:HBM) last announced its quarterly earnings data on Thursday, November 3rd. The mining company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. The company earned $311.40 million during the quarter, compared to analyst estimates of $268.89 million. HudBay Minerals had a negative net margin of 21.19% and a positive return on equity of 1.04%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. On average, equities research analysts forecast that HudBay Minerals will post $0.09 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in HudBay Minerals by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 128,059 shares of the mining company’s stock worth $612,000 after buying an additional 2,400 shares during the period. PineBridge Investments L.P. increased its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock worth $406,000 after buying an additional 9,160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in HudBay Minerals by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 162,188 shares of the mining company’s stock worth $640,000 after buying an additional 12,906 shares during the period. AXA increased its stake in HudBay Minerals by 8.7% in the second quarter. AXA now owns 222,000 shares of the mining company’s stock worth $1,055,000 after buying an additional 17,700 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in HudBay Minerals by 389.2% in the third quarter. Tower Research Capital LLC TRC now owns 34,970 shares of the mining company’s stock worth $182,000 after buying an additional 27,821 shares during the period. Institutional investors own 58.59% of the company’s stock.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

5 Day Chart for NYSE:HBM

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