According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “
Other research analysts have also issued research reports about the stock. Canaccord Genuity lifted their price target on shares of Hudbay Minerals from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. National Bank Financial raised shares of Hudbay Minerals from a “sector perform” rating to an “outperform” rating and cut their price target for the company from $14.00 to $12.50 in a research note on Friday, September 10th. CIBC lifted their price target on shares of Hudbay Minerals from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Tuesday, May 25th. Raymond James lifted their price target on shares of Hudbay Minerals from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Wednesday, June 9th. Finally, Credit Suisse Group lowered their price objective on shares of Hudbay Minerals from C$13.00 to C$11.50 and set an “outperform” rating on the stock in a report on Wednesday, August 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.33.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Monday, August 9th. The mining company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.07). Hudbay Minerals had a negative net margin of 5.90% and a negative return on equity of 3.13%. The company had revenue of $404.24 million during the quarter, compared to the consensus estimate of $416.66 million. During the same period in the previous year, the firm posted ($0.15) EPS. The business’s quarterly revenue was up 93.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Hudbay Minerals will post 0.18 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of HBM. Keebeck Alpha LP acquired a new position in Hudbay Minerals during the second quarter worth $84,000. Vident Investment Advisory LLC boosted its position in Hudbay Minerals by 22.0% during the first quarter. Vident Investment Advisory LLC now owns 12,635 shares of the mining company’s stock worth $87,000 after purchasing an additional 2,281 shares during the period. BlackRock Inc. bought a new position in Hudbay Minerals during the first quarter worth $91,000. Van ECK Associates Corp boosted its position in Hudbay Minerals by 268.0% during the first quarter. Van ECK Associates Corp now owns 17,847 shares of the mining company’s stock worth $122,000 after purchasing an additional 12,997 shares during the period. Finally, SailingStone Capital Partners LLC bought a new position in Hudbay Minerals during the second quarter worth $161,000. Institutional investors and hedge funds own 65.50% of the company’s stock.
About Hudbay Minerals
HudBay Minerals, Inc operates as a mining company. The firm engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.
See Also: How to Invest in Growth Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.