HudBay Minerals Inc. (HBM) Given Outperform Rating at Scotiabank
Scotiabank restated their outperform rating on shares of HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM) in a research note issued to investors on Thursday. Scotiabank currently has a $8.75 target price on the mining company’s stock, up from their prior target price of $7.75.
Other equities analysts have also recently issued research reports about the company. Barclays PLC reiterated an underweight rating on shares of HudBay Minerals in a research report on Wednesday, August 3rd. National Bank Financial reiterated a sector perform rating and set a $9.00 target price (up previously from $7.00) on shares of HudBay Minerals in a research report on Thursday, November 24th. BMO Capital Markets cut HudBay Minerals from an outperform rating to a market perform rating and set a $7.50 price target on the stock. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. RBC Capital Markets restated an outperform rating on shares of HudBay Minerals in a report on Thursday, November 24th. Finally, TD Securities restated a hold rating and issued a $7.50 price target on shares of HudBay Minerals in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. HudBay Minerals currently has a consensus rating of Buy and a consensus target price of $7.62.
Shares of HudBay Minerals (NYSE:HBM) opened at 6.70 on Thursday. The firm’s market capitalization is $1.58 billion. The company’s 50-day moving average price is $4.89 and its 200 day moving average price is $4.57. HudBay Minerals has a 12-month low of $1.56 and a 12-month high of $7.10.
HudBay Minerals (NYSE:HBM) last released its earnings results on Thursday, November 3rd. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. HudBay Minerals had a positive return on equity of 1.04% and a negative net margin of 21.19%. The company had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $268.89 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities research analysts forecast that HudBay Minerals will post $0.09 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. raised its position in shares of HudBay Minerals by 0.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 25,998,894 shares of the mining company’s stock worth $123,309,000 after buying an additional 124,550 shares in the last quarter. Capital Research Global Investors raised its position in shares of HudBay Minerals by 11.2% in the second quarter. Capital Research Global Investors now owns 11,100,000 shares of the mining company’s stock worth $53,011,000 after buying an additional 1,115,000 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of HudBay Minerals by 5.5% in the third quarter. CIBC Asset Management Inc now owns 7,172,795 shares of the mining company’s stock worth $28,394,000 after buying an additional 371,436 shares in the last quarter. Vanguard Group Inc. raised its position in shares of HudBay Minerals by 19.9% in the second quarter. Vanguard Group Inc. now owns 4,322,023 shares of the mining company’s stock worth $20,659,000 after buying an additional 718,315 shares in the last quarter. Finally, Greystone Managed Investments Inc. acquired a new position in shares of HudBay Minerals during the second quarter worth $5,986,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.
HudBay Minerals Company Profile
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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