HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM's stock price rose 8.4% during trading on Thursday . The company traded as high as $10.56 and last traded at $10.63. Approximately 8,626,785 shares changed hands during mid-day trading, an increase of 62% from the average daily volume of 5,334,136 shares. The stock had previously closed at $9.80.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Desjardins initiated coverage on HudBay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. BMO Capital Markets started coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Stifel Canada upgraded shares of HudBay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $14.00.
View Our Latest Report on HBM
HudBay Minerals Stock Up 9.1%
The company has a market cap of $4.22 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32. The stock's fifty day moving average is $8.55 and its two-hundred day moving average is $8.21.
HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.14. The company had revenue of $594.90 million for the quarter, compared to analysts' expectations of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. HudBay Minerals's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Sell-side analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.
Institutional Trading of HudBay Minerals
Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of HudBay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after buying an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after purchasing an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of HudBay Minerals during the 1st quarter worth $33,000. Jones Financial Companies Lllp boosted its holdings in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after buying an additional 3,733 shares during the last quarter. Finally, Algert Global LLC bought a new position in HudBay Minerals during the fourth quarter valued at about $86,000. Hedge funds and other institutional investors own 57.82% of the company's stock.
About HudBay Minerals
(
Get Free Report)
Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.
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