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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.17.

Several equities analysts recently commented on the company. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

Hudbay Minerals Price Performance

HBM opened at $8.94 on Monday. The company has a 50 day moving average of $9.09 and a two-hundred day moving average of $8.70. Hudbay Minerals has a 52-week low of $4.41 and a 52-week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.52 billion, a P/E ratio of 38.87 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same period last year, the company posted $0.07 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that Hudbay Minerals will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Hudbay Minerals by 3.2% in the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after buying an additional 272,635 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Hudbay Minerals by 23.1% in the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after purchasing an additional 1,441,991 shares in the last quarter. Boston Partners lifted its position in shares of Hudbay Minerals by 29.1% during the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after purchasing an additional 124,376 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Hudbay Minerals in the third quarter worth about $20,907,000. Finally, Driehaus Capital Management LLC acquired a new position in Hudbay Minerals in the second quarter worth about $14,718,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.