HudBay Minerals (NYSE:HBM) Research Coverage Started at Citigroup

Citigroup began coverage on shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) in a report released on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $23.00 price objective on the mining company’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating on the stock. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a report on Friday, October 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.25.

HudBay Minerals Price Performance

HBM stock opened at $18.96 on Monday. The stock has a 50-day moving average price of $16.54 and a two-hundred day moving average price of $13.17. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $19.30. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The company has a market cap of $7.51 billion, a PE ratio of 16.34 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 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $346.80 million during the quarter, compared to analysts’ expectations of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The business’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share. As a group, research analysts predict that HudBay Minerals will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Waterfront Wealth Inc. lifted its position in shares of HudBay Minerals by 2.0% in the 3rd quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock worth $588,000 after buying an additional 756 shares during the last quarter. Savant Capital LLC lifted its holdings in HudBay Minerals by 2.4% in the third quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after acquiring an additional 760 shares during the last quarter. Allworth Financial LP lifted its holdings in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the last quarter. Creative Planning boosted its stake in HudBay Minerals by 5.4% in 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 during the period. Finally, Pacifica Partners Inc. grew its holdings 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 valued at $272,000 after purchasing an additional 1,625 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.