Hudbay Minerals (NYSE:HBM) Price Target Raised to C$14.00

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) had its price objective upped by investment analysts at Raymond James from C$13.00 to C$14.00 in a research report issued on Wednesday, The Fly reports.

Several other research analysts also recently weighed in on HBM. National Bank Financial lowered their price objective on shares of Hudbay Minerals from C$13.00 to C$12.50 in a report on Tuesday. Scotiabank upped their target price on shares of Hudbay Minerals from C$12.00 to C$12.50 in a report on Tuesday. StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on Hudbay Minerals from C$15.00 to C$16.50 in a report on Thursday, March 17th. Finally, Zacks Investment Research lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Friday, January 28th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.64.

HBM stock traded up $0.02 during trading on Wednesday, reaching $7.47. 24,751 shares of the stock were exchanged, compared to its average volume of 1,293,469. The business’s 50 day simple moving average is $7.86. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -8.03, a P/E/G ratio of 0.36 and a beta of 2.08. The company has a current ratio of 1.29, a quick ratio of 0.98 and a debt-to-equity ratio of 0.83. Hudbay Minerals has a twelve month low of $5.22 and a twelve month high of $9.60.

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) last released its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Hudbay Minerals had a positive return on equity of 3.83% and a negative net margin of 16.27%. The firm had revenue of $425.17 million during the quarter, compared to the consensus estimate of $440.81 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 31.9% on a year-over-year basis. As a group, sell-side analysts predict that Hudbay Minerals will post 0.77 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. L1 Capital Pty Ltd raised its stake in shares of Hudbay Minerals by 16.4% during the 4th quarter. L1 Capital Pty Ltd now owns 11,309,560 shares of the mining company’s stock worth $103,596,000 after purchasing an additional 1,596,887 shares during the period. Condire Management LP increased its holdings in Hudbay Minerals by 6.3% during the fourth quarter. Condire Management LP now owns 4,250,137 shares of the mining company’s stock worth $30,813,000 after buying an additional 250,137 shares during the last quarter. Allianz Asset Management GmbH raised its position in Hudbay Minerals by 128.3% in the third quarter. Allianz Asset Management GmbH now owns 3,740,965 shares of the mining company’s stock worth $23,328,000 after acquiring an additional 2,102,057 shares during the period. Thornburg Investment Management Inc. boosted its stake in Hudbay Minerals by 328.8% in the third quarter. Thornburg Investment Management Inc. now owns 2,444,645 shares of the mining company’s stock valued at $15,230,000 after acquiring an additional 1,874,545 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Hudbay Minerals during the 4th quarter valued at approximately $17,172,000. Hedge funds and other institutional investors own 66.94% of the company’s stock.

About Hudbay Minerals (Get Rating)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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