HudBay Minerals (NYSE:HBM) Now Covered by UBS Group

UBS Group assumed coverage on shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) in a research note published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating on the mining company’s stock.

A number of other research analysts also recently commented on HBM. Citigroup assumed coverage on shares of HudBay Minerals in a research report on Monday, December 15th. They issued a “buy” rating and a $23.00 target price on the stock. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, HudBay Minerals presently has a consensus rating of “Buy” and a consensus target price of $27.00.

HudBay Minerals Price Performance

HBM stock opened at $21.10 on Thursday. The business has a 50 day moving average price of $17.75 and a 200 day moving average price of $14.31. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 18.19 and a beta of 1.36. HudBay Minerals has a fifty-two week low of $5.95 and a fifty-two week high of $22.12.

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

Institutional Trading of HudBay Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Waterfront Wealth Inc. raised its holdings in HudBay Minerals by 2.0% during the third quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock worth $588,000 after purchasing an additional 756 shares in the last quarter. Savant Capital LLC boosted its holdings 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 purchasing an additional 760 shares in the last quarter. Allworth Financial LP increased its position in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the period. Creative Planning raised its stake in shares of HudBay Minerals by 5.4% during the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after buying an additional 1,289 shares in the last quarter. Finally, Pacifica Partners Inc. raised its stake in shares of HudBay Minerals by 6.7% during the 2nd quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after buying an additional 1,625 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.