FY2016 EPS Estimates for HudBay Minerals Inc. Cut by Analyst (HBM)
HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at National Bank Financial cut their FY2016 EPS estimates for shares of HudBay Minerals in a note issued to investors on Monday. National Bank Financial analyst S. Nagle now forecasts that the brokerage will earn $0.05 per share for the year, down from their previous estimate of $0.07.
HudBay Minerals (NYSE:HBM) last announced its quarterly earnings data 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 business earned $311.40 million during the quarter, compared to analyst estimates of $268.89 million. During the same period last year, the company earned ($0.05) earnings per share. HudBay Minerals’s quarterly revenue was up 15.4% compared to the same quarter last year.
HBM has been the subject of a number of other research reports. BMO Capital Markets raised shares of HudBay Minerals from a “market perform” rating to an “outperform” rating and set a $7.00 target price for the company in a report on Thursday, September 29th. Scotiabank reissued an “outperform” rating and issued a $7.50 price target (down previously from $8.00) on shares of HudBay Minerals in a report on Monday, September 19th. Zacks Investment Research raised shares of HudBay Minerals from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Wednesday, October 5th. Canaccord Genuity reissued a “buy” rating and issued a $6.75 price target (down previously from $7.50) on shares of HudBay Minerals in a report on Monday, October 24th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $7.00 price target on shares of HudBay Minerals in a report on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.08.
Shares of HudBay Minerals (NYSE:HBM) opened at 6.85 on Wednesday. HudBay Minerals has a one year low of $1.56 and a one year high of $6.90. The company’s 50 day moving average price is $4.68 and its 200 day moving average price is $4.51. The stock’s market capitalization is $1.62 billion.
A number of large investors have recently modified their holdings of the company. Greystone Managed Investments Inc. acquired a new stake in shares of HudBay Minerals during the second quarter valued at approximately $5,986,000. Capital Research Global Investors boosted 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. Vanguard Group Inc. boosted 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. Citadel Advisors LLC boosted its stake in shares of HudBay Minerals by 100.0% in the third quarter. Citadel Advisors LLC now owns 1,023,059 shares of the mining company’s stock valued at $4,049,000 after buying an additional 511,589 shares during the period. Finally, CIBC Asset Management Inc boosted 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. 73.13% of the stock is currently owned by hedge funds and other institutional investors.
About HudBay Minerals
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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