HudBay Minerals’ (HBM) “Underweight” Rating Reiterated at Barclays PLC
Barclays PLC reaffirmed their underweight rating on shares of HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM) in a research report released on Sunday. Barclays PLC currently has a $7.00 price objective on the mining company’s stock, up from their previous price objective of $5.00.
A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets upgraded shares of HudBay Minerals from a market perform rating to an outperform rating and set a $7.00 price target on the stock in a research note on Thursday, September 29th. Zacks Investment Research cut shares of HudBay Minerals from a buy rating to a sell rating in a research note on Monday, October 17th. Credit Suisse Group AG lowered HudBay Minerals from an outperform rating to a neutral rating in a research report on Thursday, July 28th. Scotiabank reissued an outperform rating and issued a $8.00 target price on shares of HudBay Minerals in a research report on Thursday, July 28th. Finally, TD Securities raised HudBay Minerals from a hold rating to a buy rating and boosted their target price for the stock from $6.50 to $7.50 in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $6.92.
Shares of HudBay Minerals (NYSE:HBM) opened at 5.70 on Friday. HudBay Minerals has a 12-month low of $1.56 and a 12-month high of $6.15. The company’s 50-day moving average is $4.17 and its 200-day moving average is $4.42. The stock’s market cap is $1.35 billion.
HudBay Minerals (NYSE:HBM) last announced its quarterly earnings results on Thursday, November 3rd. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.09. The company had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $268.89 million. HudBay Minerals had a negative net margin of 21.19% and a positive return on equity of 1.04%. HudBay Minerals’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, equities research analysts anticipate that HudBay Minerals will post $0.07 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of HBM. PNC Financial Services Group Inc. purchased a new position in HudBay Minerals during the third quarter worth approximately $144,000. Tower Research Capital LLC TRC raised its stake in HudBay Minerals by 389.2% in the third quarter. Tower Research Capital LLC TRC now owns 34,970 shares of the mining company’s stock valued at $182,000 after buying an additional 27,821 shares during the last quarter. A.R.T. Advisors LLC raised its stake in HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock valued at $227,000 after buying an additional 35,300 shares during the last quarter. Acadian Asset Management LLC bought a new stake in HudBay Minerals during the second quarter valued at $382,000. Finally, Flow Traders U.S. LLC bought a new stake in HudBay Minerals during the second quarter valued at $389,000. Hedge funds and other institutional investors own 66.80% 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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