Hudbay Minerals (NYSE:HBM) Receives New Coverage from Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a report released on Friday, Marketbeat.com reports. The firm set a “hold” rating and a $13.00 price target on the mining company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 55.32% from the stock’s previous close.

Several other equities research analysts also recently issued reports on HBM. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday, April 9th. Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating for the company. Raymond James raised their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Hudbay Minerals presently has a consensus rating of “Moderate Buy” and an average price target of $10.21.

Hudbay Minerals Trading Up 0.6 %

NYSE:HBM opened at $8.37 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. Hudbay Minerals has a one year low of $3.94 and a one year high of $8.85. The company has a market cap of $2.94 billion, a PE ratio of 41.85, a PEG ratio of 0.90 and a beta of 1.88. The firm has a 50-day moving average of $7.15 and a 200-day moving average of $5.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company’s quarterly revenue was up 87.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, equities research analysts expect that Hudbay Minerals will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hudbay Minerals by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock valued at $327,000 after buying an additional 12,748 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Hudbay Minerals by 6.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock worth $35,643,000 after acquiring an additional 467,872 shares during the last quarter. TD Asset Management Inc raised its stake in Hudbay Minerals by 9.0% in the 3rd quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock valued at $4,661,000 after acquiring an additional 78,493 shares during the period. CIBC Asset Management Inc raised its stake in Hudbay Minerals by 60.3% in the 3rd quarter. CIBC Asset Management Inc now owns 344,750 shares of the mining company’s stock valued at $1,683,000 after acquiring an additional 129,733 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Hudbay Minerals by 18.5% during the third quarter. Jennison Associates LLC now owns 1,324,367 shares of the mining company’s stock valued at $6,451,000 after purchasing an additional 206,601 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.