Hudbay Minerals Inc (HBM) Receives Consensus Rating of “Hold” from Brokerages

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.00.

A number of brokerages have recently weighed in on HBM. Zacks Investment Research raised Hudbay Minerals from a “sell” rating to a “hold” rating in a report on Monday, July 23rd. Raymond James reaffirmed a “buy” rating on shares of Hudbay Minerals in a report on Friday. Barclays started coverage on Hudbay Minerals in a report on Wednesday, October 10th. They set an “overweight” rating and a $8.00 target price on the stock. Credit Suisse Group reaffirmed a “neutral” rating on shares of Hudbay Minerals in a report on Monday, September 10th. Finally, ValuEngine raised Hudbay Minerals from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 7th.

Shares of HBM stock traded up $0.01 during mid-day trading on Thursday, reaching $4.86. The stock had a trading volume of 17,161 shares, compared to its average volume of 797,851. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.98 and a current ratio of 2.44. The firm has a market capitalization of $1.32 billion, a PE ratio of 8.81 and a beta of 2.96. Hudbay Minerals has a 1-year low of $3.44 and a 1-year high of $10.25.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, October 31st. The mining company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The business had revenue of $362.65 million for the quarter, compared to analyst estimates of $305.36 million. Hudbay Minerals had a return on equity of 7.26% and a net margin of 12.29%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share. Sell-side analysts forecast that Hudbay Minerals will post 0.29 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Regal Investment Advisors LLC grew its stake in Hudbay Minerals by 49.2% during the 3rd quarter. Regal Investment Advisors LLC now owns 36,930 shares of the mining company’s stock worth $186,000 after purchasing an additional 12,181 shares in the last quarter. Usca Ria LLC grew its stake in Hudbay Minerals by 38.1% in the third quarter. Usca Ria LLC now owns 68,029 shares of the mining company’s stock worth $344,000 after purchasing an additional 18,755 shares in the last quarter. Heathbridge Capital Management Ltd. grew its stake in Hudbay Minerals by 0.8% in the third quarter. Heathbridge Capital Management Ltd. now owns 4,559,900 shares of the mining company’s stock worth $23,037,000 after purchasing an additional 37,650 shares in the last quarter. Intact Investment Management Inc. grew its stake in Hudbay Minerals by 522.7% in the third quarter. Intact Investment Management Inc. now owns 1,133,300 shares of the mining company’s stock worth $7,378,000 after purchasing an additional 951,300 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Hudbay Minerals in the third quarter worth about $2,076,000. 58.36% of the stock is currently owned by hedge funds and other 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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

See Also: Intrinsic Value

Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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