Analysts Set Hudbay Minerals Inc. (NYSE:HBM) PT at $11.17

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have received an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.17.

A number of brokerages have recently commented on HBM. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

Institutional Investors Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in HBM. Mountaineer Partners Management LLC boosted its holdings in shares of Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Regal Partners Ltd acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at approximately $22,956,000. Artemis Investment Management LLP acquired a new stake in Hudbay Minerals during the 3rd quarter valued at $20,907,000. TD Asset Management Inc lifted its holdings in Hudbay Minerals by 199.4% during the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after purchasing an additional 1,935,709 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after purchasing an additional 1,685,836 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.77 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 1 year low of $4.34 and a 1 year high of $10.49. The company has a market cap of $3.45 billion, a PE ratio of 38.22 and a beta of 1.78. The company’s 50-day moving average is $9.05 and its two-hundred day moving average is $8.70.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Hudbay Minerals will post 0.55 earnings per share for the current year.

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.