HudBay Minerals Inc. (HBM) Rating Reiterated by Barclays PLC
HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM)‘s stock had its “underweight” rating restated by equities research analysts at Barclays PLC in a research note issued on Sunday. They currently have a $7.00 price objective on the mining company’s stock, up from their prior price objective of $5.00. Barclays PLC’s price target indicates a potential upside of 22.81% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 target price on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. RBC Capital Markets reissued an “outperform” rating and issued a $7.50 target price (up previously from $7.00) on shares of HudBay Minerals in a research note on Thursday, November 3rd. TD Securities reissued a “hold” rating and issued a $7.50 target price on shares of HudBay Minerals in a research note on Thursday, August 4th. Zacks Investment Research raised HudBay Minerals from a “sell” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Thursday, November 3rd. Finally, Scotiabank reissued an “outperform” rating and issued a $8.00 target price on shares of HudBay Minerals in a research note on Thursday, July 28th. One equities 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 stock. The stock has a consensus rating of “Buy” and an average target price of $6.92.
Shares of HudBay Minerals (NYSE:HBM) opened at 5.70 on Friday. The firm has a 50 day moving average price of $4.17 and a 200 day moving average price of $4.42. The company’s market capitalization is $1.35 billion. HudBay Minerals has a one year low of $1.56 and a one year high of $6.15.
HudBay Minerals (NYSE:HBM) last released its earnings results on Thursday, November 3rd. The mining company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09. The business had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $268.89 million. HudBay Minerals had a positive return on equity of 1.04% and a negative net margin of 21.19%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, equities research analysts predict that HudBay Minerals will post $0.07 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of HBM. Tower Research Capital LLC TRC boosted 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. PNC Financial Services Group Inc. acquired a new stake in HudBay Minerals during the third quarter valued at about $144,000. A.R.T. Advisors LLC boosted 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. PineBridge Investments L.P. boosted its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock valued at $406,000 after buying an additional 9,160 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in HudBay Minerals during the second quarter valued at about $382,000. 66.80% of the stock is currently 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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