Hudbay Minerals Inc. (NYSE:HBM) Receives $11.17 Average Target Price from Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has earned a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings 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 research report on Friday.

Hudbay Minerals Stock Up 2.6 %

Shares of HBM opened at $9.59 on Friday. The company has a market capitalization of $3.79 billion, a P/E ratio of 41.68 and a beta of 1.74. Hudbay Minerals has a one year low of $4.94 and a one year high of $10.49. The business’s 50 day simple moving average is $8.60 and its 200-day simple moving average is $8.49. 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 released its quarterly 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 return on equity of 7.44% and a net margin of 4.23%. The business had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Hudbay Minerals will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently made changes to their positions in the business. Algert Global LLC bought a new position in Hudbay Minerals in the second quarter valued at approximately $111,000. Strong Tower Advisory Services raised its position in Hudbay Minerals by 8.0% during the third quarter. Strong Tower Advisory Services now owns 61,842 shares of the mining company’s stock worth $568,000 after acquiring an additional 4,599 shares in the last quarter. First Affirmative Financial Network acquired a new stake in Hudbay Minerals in the third quarter valued at $103,000. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals in the 3rd quarter valued at about $53,000. Finally, Oliver Luxxe Assets LLC bought a new position in Hudbay Minerals during the third quarter worth about $1,187,000. 57.82% of the stock is owned by institutional investors.

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.