National Bank Financial Brokers Boost Earnings Estimates for HudBay Minerals Inc (HBM)
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Equities research analysts at National Bank Financial boosted their FY2017 earnings per share estimates for shares of HudBay Minerals in a report issued on Wednesday. National Bank Financial analyst S. Nagle now expects that the mining company will post earnings of $0.58 per share for the year, up from their prior estimate of $0.52. National Bank Financial also issued estimates for HudBay Minerals’ Q4 2017 earnings at $0.24 EPS, FY2018 earnings at $0.95 EPS and FY2019 earnings at $1.21 EPS.
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HBM has been the subject of several other reports. BMO Capital Markets raised their price target on HudBay Minerals from $10.50 to $10.75 and gave the stock a “market perform” rating in a research report on Monday, October 2nd. Zacks Investment Research cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Raymond James Financial, Inc. reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, August 15th. TheStreet raised HudBay Minerals from a “d+” rating to a “c-” rating in a report on Monday, August 14th. Finally, J P Morgan Chase & Co raised HudBay Minerals from a “neutral” rating to an “overweight” rating in a report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.39.
Shares of HudBay Minerals (NYSE HBM) opened at $7.95 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 1.33. The stock has a market capitalization of $2,116.30, a P/E ratio of 21.32 and a beta of 3.21. HudBay Minerals has a 52-week low of $4.45 and a 52-week high of $9.35.
Several institutional investors have recently modified their holdings of the company. Global X MANAGEMENT CO LLC raised its stake in HudBay Minerals by 34.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 353,352 shares of the mining company’s stock worth $2,613,000 after acquiring an additional 90,387 shares during the period. Swiss National Bank raised its stake in HudBay Minerals by 10.1% during the third quarter. Swiss National Bank now owns 434,100 shares of the mining company’s stock worth $3,219,000 after acquiring an additional 40,000 shares during the period. ICM Asset Management Inc. WA raised its stake in HudBay Minerals by 68.2% during the third quarter. ICM Asset Management Inc. WA now owns 236,375 shares of the mining company’s stock worth $1,761,000 after acquiring an additional 95,860 shares during the period. American Century Companies Inc. raised its stake in HudBay Minerals by 101.6% during the third quarter. American Century Companies Inc. now owns 786,320 shares of the mining company’s stock worth $5,829,000 after acquiring an additional 396,307 shares during the period. Finally, State of Tennessee Treasury Department bought a new position in HudBay Minerals in the 3rd quarter worth about $1,536,000. Institutional investors and hedge funds own 65.44% 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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