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

Citigroup set a $34.50 price target on HudBay Minerals (NYSE:HBM) (TSE:HBM) in a research note issued to investors on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the mining company’s stock.

A number of other equities research analysts also recently weighed in on HBM. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Bank of America increased their price target on HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $27.00.

HudBay Minerals Trading Up 2.2%

Shares of HBM opened at $21.57 on Thursday. The stock’s fifty day simple moving average is $17.86 and its 200-day simple moving average is $14.43. The firm has a market capitalization of $8.56 billion, a PE ratio of 18.59 and a beta of 1.36. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $22.12. 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 (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share 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 firm had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, research analysts predict that HudBay Minerals will post 0.79 earnings per share for the current year.

Institutional Trading of HudBay Minerals

A number of large investors have recently made changes to their positions in HBM. Jones Financial Companies Lllp lifted its holdings in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after purchasing an additional 4,299,428 shares during the period. Woodline Partners LP lifted 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 valued at $17,081,000 after purchasing an additional 125,931 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of HudBay Minerals by 6.8% in 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 purchasing an additional 27,944 shares during the period. Finally, Anson Funds Management LP bought a new stake in HudBay Minerals during the 1st quarter worth approximately $759,000. 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.