HudBay Minerals Inc (NYSE:HBM) Receives $31.33 Consensus Target Price from Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $31.3333.

A number of research firms have recently commented on HBM. Bank of America dropped their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Barclays upped their price target on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st.

HudBay Minerals Stock Performance

Shares of HBM opened at $21.94 on Thursday. The company has a market capitalization of $9.75 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. HudBay Minerals has a one year low of $8.93 and a one year high of $32.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The company’s fifty day moving average price is $24.72 and its 200 day moving average price is $24.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. During the same quarter in the previous year, the business earned $0.19 EPS. The business’s revenue was up 17.7% on a year-over-year basis. As a group, analysts expect that HudBay Minerals will post 1.55 earnings per share for the current year.

Institutional Trading of HudBay Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the period. Quarry LP acquired a new stake in HudBay Minerals during the third quarter worth about $38,000. IFP Advisors Inc acquired a new stake in HudBay Minerals during the third quarter worth about $45,000. Banque Cantonale Vaudoise increased its stake in HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp increased its stake 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 valued at $50,000 after acquiring an additional 3,733 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

About HudBay Minerals

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.