HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.
Several other research analysts have also recently commented on HBM. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America reduced their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Finally, Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.
HudBay Minerals Price Performance
HBM stock opened at $23.58 on Friday. The business’s 50-day moving average is $27.11 and its two-hundred day moving average is $25.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The firm has a market capitalization of $10.47 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.41 and a beta of 1.58. HudBay Minerals has a 1 year low of $14.34 and a 1 year high of $32.15.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Analysts anticipate that HudBay Minerals will post 1.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On HudBay Minerals
Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in HudBay Minerals by 7.8% in the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock valued at $172,526,000 after purchasing an additional 597,422 shares in the last quarter. Wellington Management Group LLP acquired a new stake in HudBay Minerals during the second quarter worth approximately $130,557,000. William Blair Investment Management LLC acquired a new stake in HudBay Minerals during the second quarter worth approximately $99,536,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of HudBay Minerals during the 2nd quarter worth approximately $99,022,000. Finally, Bank of America Corp DE purchased a new stake in shares of HudBay Minerals during the 2nd quarter worth approximately $96,341,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.
About HudBay Minerals
Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company’s products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.
Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.
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