HudBay Minerals Inc. (HBM) Given Sector Perform Rating at National Bank Financial
HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at National Bank Financial in a research note issued to investors on Thursday. They presently have a $9.00 price target on the mining company’s stock, up from their prior price target of $7.00. National Bank Financial’s target price would suggest a potential upside of 31.39% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. RBC Capital Markets reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday. Barclays PLC reiterated an “underweight” rating on shares of HudBay Minerals in a report on Wednesday, August 3rd. BMO Capital Markets cut shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 target price for the company. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. TD Securities reiterated a “hold” rating and issued a $7.50 target price on shares of HudBay Minerals in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of HudBay Minerals from a “sell” rating to a “buy” rating and set a $5.00 target price for the company in a report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. HudBay Minerals has a consensus rating of “Buy” and a consensus price target of $7.62.
Shares of HudBay Minerals (NYSE:HBM) opened at 6.85 on Thursday. The firm’s market cap is $1.62 billion. HudBay Minerals has a 52-week low of $1.56 and a 52-week high of $6.90. The stock has a 50 day moving average of $4.68 and a 200 day moving average of $4.51.
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. 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%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities analysts predict that HudBay Minerals will post $0.09 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. 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 position 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 worth $182,000 after buying an additional 27,821 shares in the last quarter. A.R.T. Advisors LLC raised its position 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 worth $227,000 after buying an additional 35,300 shares in the last quarter. Acadian Asset Management LLC purchased a new position in HudBay Minerals during the second quarter worth approximately $382,000. Finally, Flow Traders U.S. LLC purchased a new position in HudBay Minerals during the second quarter worth approximately $389,000. 73.13% of the stock is currently owned by 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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