Hudbay Minerals Inc. (NYSE:HBM) Receives $12.24 Average PT from Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given an average recommendation of “Buy” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.44.

Several equities analysts recently weighed in on HBM shares. Bank of America raised shares of Hudbay Minerals from an “underperform” rating to a “buy” rating and raised their price objective for the company from $10.60 to $12.20 in a research report on Tuesday, April 6th. Credit Suisse Group raised their price objective on shares of Hudbay Minerals from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research report on Tuesday, May 25th. CIBC raised their price objective on shares of Hudbay Minerals from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Tuesday, May 25th. Scotiabank dropped their price target on shares of Hudbay Minerals from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, May 13th. Finally, Royal Bank of Canada raised shares of Hudbay Minerals from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 31st.

NYSE HBM opened at $7.03 on Tuesday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -14.35, a price-to-earnings-growth ratio of 1.76 and a beta of 2.43. The stock has a 50 day moving average of $7.74. The company has a quick ratio of 1.12, a current ratio of 1.53 and a debt-to-equity ratio of 0.73. Hudbay Minerals has a 52-week low of $2.69 and a 52-week high of $9.60.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Tuesday, May 11th. The mining company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.10). The business had revenue of $313.62 million for the quarter, compared to the consensus estimate of $362.07 million. Hudbay Minerals had a negative net margin of 11.07% and a negative return on equity of 5.84%. Hudbay Minerals’s revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) EPS. As a group, equities research analysts predict that Hudbay Minerals will post 0.28 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Hudbay Minerals by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 6,440,529 shares of the mining company’s stock worth $45,084,000 after acquiring an additional 92,600 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Hudbay Minerals by 51.5% in the first quarter. Acadian Asset Management LLC now owns 5,689,101 shares of the mining company’s stock worth $38,928,000 after acquiring an additional 1,933,967 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Hudbay Minerals by 202.6% in the first quarter. Allianz Asset Management GmbH now owns 5,658,496 shares of the mining company’s stock worth $38,718,000 after acquiring an additional 3,788,496 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Hudbay Minerals by 158.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,233,236 shares of the mining company’s stock worth $22,123,000 after acquiring an additional 1,982,807 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Hudbay Minerals by 3.0% in the first quarter. Morgan Stanley now owns 2,574,209 shares of the mining company’s stock worth $17,684,000 after acquiring an additional 76,069 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified 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; molybdenum concentrates; and zinc metals.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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