Brokerages Set Hudbay Minerals Inc (NYSE:HBM) Price Target at $8.05

Shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) have been given an average recommendation of “Hold” by the eleven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.05.

Several brokerages have recently issued reports on HBM. TheStreet downgraded shares of Virtusa from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. BMO Capital Markets downgraded shares of Capital Power from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 8th. CIBC reiterated a “hold” rating and issued a $9.00 target price on shares of Hudbay Minerals in a research note on Sunday, May 12th. ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada set a €86.00 ($100.00) target price on shares of Henkel AG & Co KGaA and gave the stock a “neutral” rating in a research note on Tuesday, May 7th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of Hudbay Minerals during the first quarter valued at approximately $4,236,000. Legal & General Group Plc raised its holdings in shares of Hudbay Minerals by 5.4% during the fourth quarter. Legal & General Group Plc now owns 61,227 shares of the mining company’s stock valued at $290,000 after purchasing an additional 3,156 shares during the last quarter. Heathbridge Capital Management Ltd. raised its holdings in shares of Hudbay Minerals by 0.6% during the first quarter. Heathbridge Capital Management Ltd. now owns 4,873,000 shares of the mining company’s stock valued at $34,825,000 after purchasing an additional 30,500 shares during the last quarter. QS Investors LLC raised its holdings in shares of Hudbay Minerals by 34.0% during the fourth quarter. QS Investors LLC now owns 123,800 shares of the mining company’s stock valued at $584,000 after purchasing an additional 31,400 shares during the last quarter. Finally, Waterton Global Resource Management Inc. raised its holdings in shares of Hudbay Minerals by 3.6% during the first quarter. Waterton Global Resource Management Inc. now owns 31,583,117 shares of the mining company’s stock valued at $225,503,000 after purchasing an additional 1,109,265 shares during the last quarter. 64.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE HBM traded down $0.23 during midday trading on Tuesday, hitting $4.90. The stock had a trading volume of 929,581 shares, compared to its average volume of 714,612. The firm’s 50 day moving average is $5.15. The stock has a market cap of $1.28 billion, a P/E ratio of 18.85, a P/E/G ratio of 4.27 and a beta of 2.83. Hudbay Minerals has a 52 week low of $3.44 and a 52 week high of $7.83. The company has a current ratio of 2.64, a quick ratio of 2.14 and a debt-to-equity ratio of 0.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $292.30 million for the quarter, compared to the consensus estimate of $314.70 million. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. The business’s revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Sell-side analysts expect that Hudbay Minerals will post 0.21 earnings per share for the current fiscal year.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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