Hudbay Minerals Inc (NYSE:HBM) Given Average Rating of “Buy” by Brokerages

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $4.88.

A number of research firms recently commented on HBM. Royal Bank of Canada restated a “hold” rating and set a $4.00 price target on shares of Hudbay Minerals in a research report on Thursday, June 4th. Scotiabank decreased their target price on Hudbay Minerals from $4.50 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 19th. Canaccord Genuity restated a “buy” rating and issued a $5.00 target price on shares of Hudbay Minerals in a research note on Tuesday, May 19th. TD Securities reduced their price target on shares of Hudbay Minerals from $4.00 to $3.75 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Finally, CIBC cut shares of Hudbay Minerals from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.50 to $3.00 in a research report on Wednesday, April 1st.

Shares of HBM traded up $0.23 during mid-day trading on Tuesday, reaching $2.80. The company had a trading volume of 525,300 shares, compared to its average volume of 1,689,027. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.52 and a quick ratio of 1.15. The company has a market capitalization of $731.56 million, a P/E ratio of -1.79 and a beta of 2.67. Hudbay Minerals has a twelve month low of $1.23 and a twelve month high of $5.59. The company’s 50-day moving average is $2.70 and its 200-day moving average is $2.79.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Thursday, May 14th. The mining company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Hudbay Minerals had a negative return on equity of 5.08% and a negative net margin of 34.15%. The firm had revenue of $245.11 million during the quarter, compared to analyst estimates of $258.87 million. As a group, equities analysts expect that Hudbay Minerals will post -0.61 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Hudbay Minerals in the first quarter valued at about $51,000. Adams Wealth Management bought a new position in Hudbay Minerals in the fourth quarter valued at approximately $58,000. Raymond James & Associates boosted its holdings in shares of Hudbay Minerals by 43.3% in the first quarter. Raymond James & Associates now owns 33,477 shares of the mining company’s stock valued at $63,000 after buying an additional 10,113 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Hudbay Minerals by 22.3% in the first quarter. Franklin Resources Inc. now owns 33,465 shares of the mining company’s stock valued at $63,000 after buying an additional 6,095 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Hudbay Minerals during the first quarter worth $100,000. 69.65% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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