HudBay Minerals Inc. (HBM) Earns Buy Rating from TD Securities
HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM)‘s stock had its “buy” rating restated by investment analysts at TD Securities in a research note issued to investors on Thursday. They presently have a $9.50 target price on the mining company’s stock, up from their previous target price of $7.50. TD Securities’ target price suggests a potential upside of 38.69% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Canaccord Genuity reiterated a “buy” rating and issued a $6.75 price objective (down from $7.50) on shares of HudBay Minerals in a research report on Monday, October 24th. Zacks Investment Research upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research report on Wednesday, October 5th. Credit Suisse Group AG set a $9.00 price objective on shares of HudBay Minerals and gave the company a “hold” rating in a research report on Tuesday. BMO Capital Markets downgraded shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective on the stock. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Scotiabank reiterated an “outperform” rating and issued a $7.50 price objective (down from $8.00) on shares of HudBay Minerals in a research report on Monday, September 19th. One 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 stock. HudBay Minerals has a consensus rating of “Buy” and a consensus price target of $7.62.
HudBay Minerals (NYSE:HBM) opened at 6.85 on Thursday. HudBay Minerals has a 52 week low of $1.56 and a 52 week high of $6.90. The stock’s market cap is $1.62 billion. The company’s 50 day moving average is $4.68 and its 200 day moving average is $4.51.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings data on Thursday, November 3rd. The mining company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.09. The firm had revenue of $311.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. Equities analysts predict that HudBay Minerals will post $0.09 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in HBM. Greystone Managed Investments Inc. acquired a new position in shares of HudBay Minerals during the second quarter valued at about $5,986,000. Capital Research Global Investors increased its position in 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. increased its position in 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 increased its position in 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 increased its position in 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 institutional investors.
TRADEMARK VIOLATION WARNING: “HudBay Minerals Inc. (HBM) Earns Buy Rating from TD Securities” was first posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this story on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be accessed at https://www.thecerbatgem.com/2016/11/24/hudbay-minerals-inc-hbm-earns-buy-rating-from-td-securities.html.
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.
Receive News & Stock Ratings for HudBay Minerals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HudBay Minerals Inc. and related stocks with our FREE daily email newsletter.