Hudbay Minerals Inc. (NYSE:HBM) Receives $10.21 Average Price Target from Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have earned a consensus recommendation of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.21.

A number of analysts have recently issued reports on the company. National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. Jefferies Financial Group assumed coverage on Hudbay Minerals in a report on Friday, May 3rd. They set a “hold” rating and a $13.00 price target for the company. Raymond James upped their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently modified their holdings of the company. Donald Smith & CO. Inc. grew its position in shares of Hudbay Minerals by 475.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after buying an additional 3,802,687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Hudbay Minerals in the fourth quarter valued at approximately $14,618,000. Invesco Ltd. increased its position in Hudbay Minerals by 60.2% during the 3rd quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock valued at $34,083,000 after purchasing an additional 2,630,780 shares during the period. L1 Capital Pty Ltd raised its holdings in Hudbay Minerals by 15.1% during the 3rd quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock worth $79,378,000 after purchasing an additional 2,141,437 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Hudbay Minerals by 28.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after purchasing an additional 2,085,641 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

NYSE:HBM opened at $9.05 on Friday. Hudbay Minerals has a 52-week low of $3.94 and a 52-week high of $10.49. The company has a market cap of $3.56 billion, a P/E ratio of 39.35 and a beta of 1.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. The stock’s 50-day simple moving average is $9.03 and its 200 day simple moving average is $7.11.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. The company had revenue of $524.99 million during the quarter, compared to the consensus estimate of $463.69 million. As a group, sell-side analysts forecast that Hudbay Minerals will post 0.6 EPS for the current fiscal year.

About Hudbay Minerals

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.