CIBC restated their hold rating on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a report issued on Sunday, AnalystRatings.com reports. The brokerage currently has a $9.00 price target on the mining company’s stock.
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets reissued a market perform rating on shares of Hudbay Minerals in a research note on Wednesday, May 8th. Raymond James reissued a hold rating and issued a $10.50 target price on shares of Hudbay Minerals in a research note on Wednesday, May 8th. Royal Bank of Canada reissued an average rating on shares of Hudbay Minerals in a research note on Tuesday, May 7th. Canaccord Genuity raised Hudbay Minerals from a hold rating to a buy rating in a research note on Tuesday, May 7th. Finally, ValuEngine cut Hudbay Minerals from a buy rating to a hold rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $8.05.
Shares of HBM stock opened at $5.05 on Friday. The firm has a market capitalization of $1.32 billion, a P/E ratio of 12.95, a PEG ratio of 4.49 and a beta of 2.82. Hudbay Minerals has a twelve month low of $3.44 and a twelve month high of $7.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.14 and a current ratio of 2.64.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $292.30 million for the quarter, compared to analysts’ expectations of $314.70 million. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, equities analysts anticipate that Hudbay Minerals will post 0.21 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new stake in shares of Hudbay Minerals during the fourth quarter valued at $33,000. National Asset Management Inc. purchased a new stake in shares of Hudbay Minerals during the fourth quarter valued at $60,000. Ramsey Quantitative Systems purchased a new stake in shares of Hudbay Minerals during the fourth quarter valued at $60,000. Wells Fargo & Company MN boosted its position in shares of Hudbay Minerals by 357.4% during the first quarter. Wells Fargo & Company MN now owns 8,562 shares of the mining company’s stock valued at $61,000 after buying an additional 6,690 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Hudbay Minerals during the first quarter valued at $79,000. 67.69% 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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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