UBS Group Initiates Coverage on HudBay Minerals (NYSE:HBM)

Research analysts at UBS Group assumed coverage on shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating on the mining company’s stock.

A number of other research firms have also recently weighed in on HBM. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Bank of America upped their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of HudBay Minerals in a research note on Monday, December 29th. 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.25.

HudBay Minerals Stock Down 3.0%

Shares of NYSE HBM opened at $20.79 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $22.12. The stock’s fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $14.26. The stock has a market capitalization of $8.25 billion, a PE ratio of 18.25 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). The firm 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%.The business’s quarterly revenue was down 28.6% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. As a group, analysts expect that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HBM. Jones Financial Companies Lllp grew its position 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 purchasing an additional 3,733 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 buying an additional 4,299,428 shares in the last quarter. Woodline Partners LP raised its holdings in shares of HudBay Minerals by 5.9% during the 1st quarter. Woodline Partners LP now owns 2,250,425 shares of the mining company’s stock worth $17,081,000 after acquiring an additional 125,931 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of HudBay Minerals by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after acquiring an additional 27,944 shares during the last quarter. Finally, Anson Funds Management LP purchased a new stake in shares of HudBay Minerals in the first quarter valued at about $759,000. 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.