Brokerages Set HudBay Minerals Inc (NYSE:HBM) PT at $19.50

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has been assigned a consensus rating of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.50.

A number of analysts recently weighed in on HBM shares. The Goldman Sachs Group started coverage on shares of HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. Bank of America upped their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBM. Waterfront Wealth Inc. grew its holdings in HudBay Minerals by 2.0% during the 3rd quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock valued at $588,000 after purchasing an additional 756 shares in the last quarter. Savant Capital LLC boosted its position in HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after buying an additional 760 shares during the last quarter. Allworth Financial LP grew its stake in shares of HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares in the last quarter. Creative Planning grew its stake in shares of HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Pacifica Partners Inc. increased its position in shares of HudBay Minerals by 6.7% during the second quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after acquiring an additional 1,625 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Trading Up 0.2%

NYSE HBM opened at $18.66 on Wednesday. HudBay Minerals has a one year low of $5.95 and a one year high of $19.07. The company’s 50 day moving average price is $16.38 and its 200 day moving average price is $12.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 16.08 and a beta of 1.39.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The business had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. HudBay Minerals’s quarterly revenue was down 28.6% compared to the same quarter last year. On average, sell-side analysts predict that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Company Profile

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.