HudBay Minerals Inc (NYSE:HBM) Receives Consensus Rating of “Buy” from Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $27.00.

Several equities analysts have recently issued reports on HBM shares. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th.

Institutional Trading of HudBay Minerals

A number of hedge funds have recently bought and sold shares of HBM. Harbour Capital Advisors LLC bought a new stake in shares of HudBay Minerals during the 4th quarter valued at about $423,000. AIA Group Ltd purchased a new position in shares of HudBay Minerals in the third quarter worth approximately $1,671,000. Allworth Financial LP grew its position 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 buying an additional 1,033 shares during the period. IFP Advisors Inc bought a new position in HudBay Minerals in the third quarter worth approximately $45,000. Finally, Swiss Life Asset Management Ltd boosted its stake in shares of HudBay Minerals by 74.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 18,390 shares of the mining company’s stock worth $279,000 after acquiring an additional 7,869 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

NYSE:HBM opened at $21.10 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $22.12. The stock has a market cap of $8.37 billion, a P/E ratio of 18.19 and a beta of 1.36. The firm’s fifty day simple moving average is $17.75 and its 200 day simple moving average is $14.31.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share 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 company 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 firm posted $0.13 EPS. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. As a group, research analysts predict that HudBay Minerals will post 0.79 EPS for the current year.

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.