HudBay Minerals (NYSE:HBM) Now Covered by Analysts at UBS Group

UBS Group started coverage on shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) in a research report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating on the mining company’s stock.

A number of other research analysts also recently weighed in on HBM. Bank of America increased their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c+)” rating on shares of HudBay Minerals in a research note on Monday, December 29th. Citigroup initiated coverage on HudBay Minerals in a report on Monday, December 15th. They set a “buy” rating and a $23.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.25.

HudBay Minerals Stock Performance

Shares of HBM opened at $20.79 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 18.25 and a beta of 1.36. The stock’s 50-day simple moving average is $17.65 and its 200 day simple moving average is $14.26. HudBay Minerals has a 52-week low of $5.95 and a 52-week high of $22.12.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The business had revenue of $346.80 million during the quarter, compared to analysts’ expectations of $538.16 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was down 28.6% compared to the same quarter last year. Research analysts forecast that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HBM. Waterfront Wealth Inc. increased its stake in HudBay Minerals by 2.0% in the third quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock worth $588,000 after purchasing an additional 756 shares during the period. Savant Capital LLC increased its stake in HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after buying an additional 760 shares during the period. Allworth Financial LP increased its stake in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares during the period. Creative Planning lifted its holdings in HudBay Minerals by 5.4% during the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after buying an additional 1,289 shares in the last quarter. Finally, Pacifica Partners Inc. grew its stake in HudBay Minerals by 6.7% in the 2nd quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after acquiring an additional 1,625 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.