HudBay Minerals Inc (HBM) – What Are Investment Firms Thinking About This Stock?

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $31.33.

A number of analysts have recently weighed in on HBM shares. Barclays reaffirmed an “overweight” rating on shares of HudBay Minerals in a research report on Tuesday, October 6th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Citigroup restated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently made changes to their positions in HBM. Wellington Management Group LLP bought a new position in shares of HudBay Minerals during the 2nd quarter valued at approximately $130,557,000. William Blair Investment Management LLC bought a new stake in HudBay Minerals in the second quarter worth $99,536,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HudBay Minerals during the second quarter valued at $99,022,000. Bank of America Corp DE purchased a new stake in HudBay Minerals during the second quarter valued at $96,341,000. Finally, The Manufacturers Life Insurance Company bought a new position in HudBay Minerals during the second quarter valued at $91,577,000. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Price Performance

HBM 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 company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The firm’s fifty day moving average is $26.24 and its 200 day moving average is $24.85. The firm has a market cap of $9.62 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.42 and a beta of 1.58.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Research analysts predict that HudBay Minerals will post 1.40 earnings per share for the current year.

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.