HudBay Minerals Inc (HBM) - What Are Analysts Saying About This Stock?

Key Points

• Analysts maintain a Moderate Buy consensus: Ten of 12 brokerages rate HudBay Minerals a buy, while two recommend holding the stock. The average 12-month price target is $31.33.
• HudBay reported quarterly adjusted earnings of $0.28 per share, exceeding estimates of $0.26, while revenue rose 17.7% year over year to $631.3 million.
• Institutional ownership remains substantial at 57.82%. Several investment firms increased their positions during the third quarter, although the stock recently traded below its 50-day moving average.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM has received a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $31.33.

HBM has been the topic of a number of recent analyst reports. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, July 30th. Citigroup reiterated a "positive" rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Barclays reiterated an "overweight" rating on shares of HudBay Minerals in a research report on Tuesday, October 6th. Wall Street Zen downgraded HudBay Minerals from a "buy" rating to a "hold" rating in a report on Sunday, October 25th. Finally, Jefferies Financial Group restated a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th.

HudBay Minerals Stock Performance

Shares of HudBay Minerals stock opened at $21.67 on Friday. HudBay Minerals has a 52 week low of $14.34 and a 52 week high of $32.15. The firm has a fifty day moving average of $26.24 and a two-hundred day moving average of $24.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.42 and a beta of 1.58.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results 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 company had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. HudBay Minerals's revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, equities research analysts predict that HudBay Minerals will post 1.40 EPS for the current year.

Institutional Investors Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Heathbridge Capital Management Ltd. grew its stake in HudBay Minerals by 8.8% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 151,500 shares of the mining company's stock valued at $4,049,000 after purchasing an additional 12,250 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in HudBay Minerals by 14.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,749 shares of the mining company's stock valued at $1,487,000 after acquiring an additional 7,219 shares during the period. Robeco Schweiz AG lifted its position in shares of HudBay Minerals by 2.5% during the third quarter. Robeco Schweiz AG now owns 1,253,650 shares of the mining company's stock worth $33,447,000 after acquiring an additional 30,650 shares in the last quarter. Signaturefd LLC lifted its position in shares of HudBay Minerals by 14.8% during the third quarter. Signaturefd LLC now owns 40,112 shares of the mining company's stock worth $1,070,000 after acquiring an additional 5,180 shares in the last quarter. Finally, Triasima Portfolio Management inc. boosted its holdings in shares of HudBay Minerals by 4.2% in the third quarter. Triasima Portfolio Management inc. now owns 587,103 shares of the mining company's stock worth $15,731,000 after acquiring an additional 23,556 shares during the period. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.

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