HudBay Minerals (NYSE:HBM) Given a $34.50 Price Target by Citigroup Analysts

HudBay Minerals (NYSE:HBM) (TSE:HBM) received a $34.50 price target from stock analysts at Citigroup in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Citigroup’s target price indicates a potential upside of 66.14% from the company’s current price.

A number of other brokerages have also recently issued reports on HBM. Zacks Research cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday. They issued a “buy” rating for the company. Bank of America raised their price target on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $27.00.

HudBay Minerals Trading Down 2.0%

Shares of HudBay Minerals stock traded down $0.43 on Thursday, hitting $20.77. 2,359,972 shares of the company’s stock traded hands, compared to its average volume of 3,938,129. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.90 and a beta of 1.36. The company has a fifty day moving average of $17.65 and a two-hundred day moving average of $14.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. HudBay Minerals has a one year low of $5.95 and a one year high of $22.12.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $346.80 million during 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 company’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. As a group, sell-side analysts expect that HudBay Minerals will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in shares of 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 during the last quarter. Quarry LP bought a new stake in HudBay Minerals in the 3rd quarter worth approximately $38,000. Global Retirement Partners LLC purchased a new stake in HudBay Minerals during the 3rd quarter valued at $45,000. IFP Advisors Inc purchased a new stake in HudBay Minerals during the 3rd quarter valued at $45,000. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the period. Institutional investors own 57.82% of the company’s stock.

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.