Hudbay Minerals (NYSE:HBM) Given New C$11.50 Price Target at CIBC

Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) had its price objective cut by research analysts at CIBC from C$14.00 to C$11.50 in a research report issued on Wednesday, The Fly reports.

HBM has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on shares of Hudbay Minerals from C$12.50 to C$11.50 in a report on Wednesday, May 11th. Scotiabank lowered their price target on Hudbay Minerals from C$12.50 to C$12.00 in a research report on Wednesday, May 11th. Zacks Investment Research lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Friday, January 28th. Royal Bank of Canada lowered their price target on Hudbay Minerals from C$14.00 to C$12.00 in a research report on Wednesday, May 11th. Finally, National Bank Financial lowered their price target on Hudbay Minerals from C$12.50 to C$11.50 in a research report on Wednesday, May 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $12.84.

Shares of HBM stock traded down $0.33 during mid-day trading on Wednesday, reaching $5.45. 91,553 shares of the company’s stock traded hands, compared to its average volume of 1,738,273. Hudbay Minerals has a 12 month low of $4.96 and a 12 month high of $8.75. The company has a market cap of $1.43 billion, a P/E ratio of -11.85, a P/E/G ratio of 0.26 and a beta of 2.07. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $7.09 and its 200-day moving average price is $7.26.

Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last announced its earnings results on Wednesday, February 23rd. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Hudbay Minerals had a negative net margin of 7.69% and a positive return on equity of 5.27%. The firm had revenue of $425.17 million for the quarter, compared to analysts’ expectations of $440.81 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 31.9% on a year-over-year basis. Equities analysts predict that Hudbay Minerals will post 0.71 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Hudbay Minerals by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,246,849 shares of the mining company’s stock worth $56,887,000 after buying an additional 86,967 shares in the last quarter. Condire Management LP grew its position in shares of Hudbay Minerals by 6.3% during the 4th 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 in the last quarter. Allianz Asset Management GmbH grew its position in shares of 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 worth $23,328,000 after buying an additional 2,102,057 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Hudbay Minerals by 71.6% during the 1st quarter. Invesco Ltd. now owns 2,968,111 shares of the mining company’s stock worth $23,300,000 after buying an additional 1,237,955 shares in the last quarter. 67.11% of the stock is currently owned by institutional investors and hedge funds.

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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