Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) Target Price at $11.17

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC grew its holdings in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after purchasing an additional 9,166,952 shares during the period. Regal Partners Ltd purchased a new stake in shares of Hudbay Minerals during the 2nd quarter valued at $22,956,000. Artemis Investment Management LLP acquired a new stake in shares of Hudbay Minerals during the 3rd quarter worth $20,907,000. TD Asset Management Inc raised its position in shares of Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after buying an additional 1,935,709 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after acquiring an additional 1,685,836 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Up 4.2 %

Shares of NYSE HBM opened at $8.24 on Friday. The firm’s 50-day moving average is $9.00 and its two-hundred day moving average is $8.59. The company has a market capitalization of $3.25 billion, a PE ratio of 35.83 and a beta of 1.77. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter in the prior year, the firm earned $0.07 EPS. Hudbay Minerals’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts anticipate that Hudbay Minerals will post 0.55 EPS for the current fiscal year.

Hudbay Minerals Company Profile

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.