HudBay Minerals Inc (NYSE:HBM) Receives $14.00 Consensus Target Price from Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Buy” from the five research firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.00.

Several analysts recently weighed in on the company. BMO Capital Markets assumed coverage on HudBay Minerals in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Stifel Canada upgraded shares of HudBay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Desjardins initiated coverage on shares of HudBay Minerals in a report on Friday, April 4th. They issued a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

HudBay Minerals Stock Down 1.4%

Shares of HBM opened at $9.59 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $8.39 and a 200-day moving average price of $8.20. The firm has a market capitalization of $3.79 billion, a P/E ratio of 25.22, a P/E/G ratio of 0.28 and a beta of 1.60. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $10.07.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.14. The firm had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Equities research analysts expect that HudBay Minerals will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On HudBay Minerals

A number of large investors have recently modified their holdings of the business. Pictet Asset Management Holding SA grew its stake in shares of HudBay Minerals by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock worth $538,000 after acquiring an additional 1,278 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,481 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of HudBay Minerals by 1.4% during the first quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company’s stock worth $963,000 after acquiring an additional 1,794 shares during the last quarter. Sprott Inc. grew its stake in shares of HudBay Minerals by 3.5% during the fourth quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after acquiring an additional 2,162 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in HudBay Minerals by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock valued at $589,000 after buying an additional 2,740 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

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.