RBC Capital Markets Reiterates “Outperform” Rating for HudBay Minerals Inc. (HBM)
HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM)‘s stock had its “outperform” rating reissued by research analysts at RBC Capital Markets in a report issued on Thursday.
Other research analysts also recently issued research reports about the company. Barclays PLC reissued an “underweight” rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. BMO Capital Markets downgraded HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. TD Securities reaffirmed a “hold” rating and set a $7.50 price objective 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 price objective on the stock in a research note on Thursday, November 3rd. Finally, Scotiabank reaffirmed an “outperform” rating and set a $8.00 price objective on shares of HudBay Minerals in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.62.
Shares of HudBay Minerals (NYSE:HBM) opened at 7.00 on Thursday. The firm’s market cap is $1.65 billion. The firm has a 50 day moving average price of $4.80 and a 200-day moving average price of $4.54. HudBay Minerals has a 12 month low of $1.56 and a 12 month high of $7.10.
HudBay Minerals (NYSE:HBM) last posted its quarterly earnings results on Thursday, November 3rd. The mining company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09. The company had revenue of $311.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, analysts predict that HudBay Minerals will post $0.09 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Greystone Managed Investments Inc. bought a new position in shares of HudBay Minerals during the second quarter valued at $5,986,000. Capital Research Global Investors boosted its position 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 last quarter. Vanguard Group Inc. boosted its position 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 last quarter. Citadel Advisors LLC boosted its position 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 last quarter. Finally, CIBC Asset Management Inc boosted its position 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 last quarter. Institutional investors own 58.59% of the company’s stock.
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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