Hudbay Minerals (NYSE:HBM) Price Target Cut to C$12.00 by Analysts at Scotiabank

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) had its price objective dropped by equities research analysts at Scotiabank from C$12.50 to C$12.00 in a report issued on Wednesday, The Fly reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Friday, January 28th. National Bank Financial reduced their price target on shares of Hudbay Minerals from C$13.00 to C$12.50 in a research report on Tuesday, April 19th. Raymond James lifted their price target on shares of Hudbay Minerals from C$13.00 to C$14.00 in a research report on Wednesday, April 20th. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$15.00 to C$16.50 in a research report on Thursday, March 17th. Finally, StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.33.

Shares of HBM stock traded up $0.10 during mid-day trading on Wednesday, hitting $5.41. 75,220 shares of the stock were exchanged, compared to its average volume of 1,361,185. The company has a quick ratio of 0.98, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Hudbay Minerals has a 12-month low of $5.22 and a 12-month high of $9.27. The firm’s fifty day moving average price is $7.36. The company has a market capitalization of $1.42 billion, a PE ratio of -5.82, a price-to-earnings-growth ratio of 0.31 and a beta of 2.07.

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 23rd. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $440.81 million. During the same quarter last year, the company posted ($0.06) earnings per share. The business’s revenue was up 31.9% on a year-over-year basis. As a group, analysts anticipate that Hudbay Minerals will post 0.73 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of HBM. Millennium Management LLC acquired a new position in Hudbay Minerals in the 4th quarter valued at approximately $17,172,000. Allianz Asset Management GmbH lifted its holdings in Hudbay Minerals by 128.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,740,965 shares of the mining company’s stock valued at $23,328,000 after purchasing an additional 2,102,057 shares during the last quarter. Thornburg Investment Management Inc. increased its position in Hudbay Minerals by 328.8% in the 3rd 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 in the last quarter. L1 Capital Pty Ltd grew its position 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 buying an additional 1,596,887 shares during the period. Finally, Invesco Ltd. boosted its stake in Hudbay Minerals by 229.5% during the 4th quarter. Invesco Ltd. now owns 1,730,156 shares of the mining company’s stock worth $12,544,000 after acquiring an additional 1,205,013 shares during the last quarter. Institutional investors and hedge funds own 67.11% 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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