HudBay Minerals Inc (NYSE:HBM) Receives $21.25 Consensus PT from Brokerages

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have received a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $21.25.

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of HudBay Minerals in a research note on Monday, December 29th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th.

Institutional Trading of HudBay Minerals

Several institutional investors have recently modified their holdings of the company. Precision Wealth Strategies LLC bought a new stake in HudBay Minerals during the third quarter worth about $855,000. L1 Capital Pty Ltd boosted its holdings in shares of HudBay Minerals by 4.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after acquiring an additional 630,703 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of HudBay Minerals by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock worth $8,844,000 after acquiring an additional 60,942 shares in the last quarter. JPMorgan Chase & Co. grew its position in HudBay Minerals by 180.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,201,190 shares of the mining company’s stock worth $44,575,000 after acquiring an additional 2,704,569 shares during the last quarter. Finally, Boston Partners increased its holdings in HudBay Minerals by 12.4% during the 2nd quarter. Boston Partners now owns 2,091,948 shares of the mining company’s stock valued at $22,196,000 after purchasing an additional 230,136 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $21.41 on Friday. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 18.45 and a beta of 1.36. The business has a 50 day moving average price of $17.55 and a 200 day moving average price of $14.21. 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.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The business had revenue of $346.80 million during the quarter, compared to the consensus estimate of $538.16 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was down 28.6% on a year-over-year basis. Research analysts predict that HudBay Minerals will post 0.79 earnings per share 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.