Hudbay Minerals Inc. (NYSE:HBM) Receives $10.36 Average Target Price from Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have earned a consensus recommendation of “Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $10.36.

HBM has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on Hudbay Minerals from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Friday, July 12th. National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday, April 9th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HBM. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after buying an additional 2,085,641 shares in the last quarter. Mackenzie Financial Corp boosted its position in Hudbay Minerals by 33.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock worth $27,604,000 after acquiring an additional 1,266,717 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hudbay Minerals by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock worth $396,000 after acquiring an additional 4,655 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Hudbay Minerals during the 4th quarter valued at about $14,618,000. Finally, Foundry Partners LLC raised its holdings in Hudbay Minerals by 3.0% in the 4th quarter. Foundry Partners LLC now owns 1,051,600 shares of the mining company’s stock valued at $5,805,000 after acquiring an additional 30,696 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.02 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.40 and a quick ratio of 1.00. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 34.85 and a beta of 1.82. The firm’s 50 day simple moving average is $9.05 and its 200-day simple moving average is $7.61. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The firm had revenue of $524.99 million for the quarter, compared to the consensus estimate of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. Analysts expect that Hudbay Minerals will post 0.59 EPS for the current year.

About Hudbay Minerals

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.