Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $5.50 price objective on the mining company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 5.97% from the stock’s current price.
According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “
Several other analysts have also recently commented on HBM. Royal Bank of Canada set a €86.00 ($100.00) price target on shares of Henkel AG & Co KGaA and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. CIBC reiterated a “hold” rating and issued a $9.00 price target on shares of Hudbay Minerals in a research note on Sunday, May 12th. Canaccord Genuity cut shares of Iamgold from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$7.00 to C$3.75 in a research note on Tuesday, May 7th. Finally, TheStreet cut shares of Virtusa from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.80.
Shares of Hudbay Minerals stock opened at $5.19 on Tuesday. The company has a market cap of $1.33 billion, a P/E ratio of 19.54, a P/E/G ratio of 4.99 and a beta of 2.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.64 and a quick ratio of 2.14. The business has a fifty day moving average price of $5.17. Hudbay Minerals has a fifty-two week low of $3.44 and a fifty-two week high of $7.83.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $292.30 million during the quarter, compared to the consensus estimate of $314.70 million. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. Hudbay Minerals’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. As a group, analysts anticipate that Hudbay Minerals will post 0.18 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund bought a new stake in shares of Hudbay Minerals in the 4th quarter valued at about $33,000. Great West Life Assurance Co. Can grew its position in shares of Hudbay Minerals by 27.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 53,072 shares of the mining company’s stock valued at $245,000 after buying an additional 11,573 shares during the last quarter. QS Investors LLC grew its position in shares of Hudbay Minerals by 34.0% in the 4th quarter. QS Investors LLC now owns 123,800 shares of the mining company’s stock valued at $584,000 after buying an additional 31,400 shares during the last quarter. Barclays PLC grew its position in shares of Hudbay Minerals by 28,133.1% in the 4th quarter. Barclays PLC now owns 75,100 shares of the mining company’s stock valued at $354,000 after buying an additional 74,834 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Hudbay Minerals in the 4th quarter valued at about $126,000. Institutional investors and hedge funds own 64.84% of the company’s stock.
About Hudbay Minerals
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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