RBC Capital Markets Reiterates Outperform Rating for HudBay Minerals Inc. (HBM)
A number of other brokerages also recently weighed in on HBM. Credit Suisse Group AG set a $9.00 price target on HudBay Minerals and gave the company a hold rating in a report on Tuesday, November 22nd. Barclays PLC reiterated an underweight rating and issued a $7.00 price target (up from $5.00) on shares of HudBay Minerals in a report on Sunday, November 20th. Scotiabank reiterated an outperform rating and issued a $8.00 price target on shares of HudBay Minerals in a report on Thursday, July 28th. Zacks Investment Research downgraded HudBay Minerals from a hold rating to a strong sell rating in a report on Thursday, July 28th. Finally, BMO Capital Markets downgraded HudBay Minerals from an outperform rating to a market perform rating and set a $7.50 price target for the company. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $7.62.
Shares of HudBay Minerals (NYSE:HBM) opened at 6.70 on Thursday. The firm has a 50-day moving average price of $4.89 and a 200-day moving average price of $4.57. The firm’s market cap is $1.58 billion. HudBay Minerals has a 12-month low of $1.56 and a 12-month high of $7.10.
HudBay Minerals (NYSE:HBM) last announced its earnings results on Thursday, November 3rd. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $268.89 million. During the same period in the prior year, the company posted ($0.05) EPS. HudBay Minerals’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities research analysts expect that HudBay Minerals will post $0.09 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. boosted its position in 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 valued at $123,309,000 after buying an additional 124,550 shares during the last quarter. Capital Research Global Investors raised its stake 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 valued at $53,011,000 after buying an additional 1,115,000 shares during the period. CIBC Asset Management Inc raised its stake 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 valued at $28,394,000 after buying an additional 371,436 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $20,659,000 after buying an additional 718,315 shares during the period. Finally, Greystone Managed Investments Inc. purchased a new stake in shares of HudBay Minerals during the second quarter valued at $5,986,000. 58.59% of the stock is owned by institutional investors.
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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