HudBay Minerals Inc. (NYSE:HBM) released its earnings results on Wednesday. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. The firm earned $247 million during the quarter, compared to the consensus estimate of $249.18 million. During the same period in the prior year, the firm earned ($0.24) EPS. The firm’s quarterly revenue was up 63.7% on a year-over-year basis.
HBM has been the subject of a number of research analyst reports. Royal Bank Of Canada upgraded HudBay Minerals from a “sector perform” rating to an “outperform” rating and set a $7.50 target price for the company in a report on Monday, May 16th. National Bank Financial reiterated a “sector perform” rating and set a $5.75 price objective (up from $4.00) on shares of HudBay Minerals in a report on Monday, May 2nd. Zacks Investment Research lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Canaccord Genuity reiterated a “buy” rating and set a $7.00 price objective (down from $7.50) on shares of HudBay Minerals in a report on Monday, May 2nd. Finally, Paradigm Capital reiterated a “buy” rating and set a $9.00 price objective (up from $7.50) on shares of HudBay Minerals in a report on Thursday, May 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. HudBay Minerals currently has an average rating of “Hold” and an average target price of $6.98.
Shares of HudBay Minerals (NYSE:HBM) traded down 0.40% during midday trading on Wednesday, hitting $4.97. The stock had a trading volume of 257,140 shares. The company’s 50 day moving average price is $4.99 and its 200-day moving average price is $3.74. HudBay Minerals has a 1-year low of $1.56 and a 1-year high of $6.67. The firm’s market capitalization is $1.17 billion.
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.
