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

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given a consensus rating of “Buy” by the six research firms that are currently 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 price target among brokers that have updated their coverage on the stock in the last year is $11.17.

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $8.64 on Tuesday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 37.55 and a beta of 1.76. The business has a 50-day moving average of $8.71 and a two-hundred day moving average of $8.53. Hudbay Minerals has a fifty-two week low of $4.94 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same period in the previous year, the company earned $0.07 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that Hudbay Minerals will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of HBM. Cinctive Capital Management LP boosted its holdings in Hudbay Minerals by 39.7% in the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock valued at $3,777,000 after purchasing an additional 116,732 shares during the period. Bank of Montreal Can raised its position in shares of Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after buying an additional 1,441,991 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Hudbay Minerals by 300.9% in the third quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock valued at $2,085,000 after buying an additional 170,257 shares during the period. Artemis Investment Management LLP acquired a new stake in Hudbay Minerals during the third quarter worth about $20,907,000. Finally, Driehaus Capital Management LLC bought a new position in Hudbay Minerals during the second quarter valued at about $14,718,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.