HudBay Minerals (NYSE:HBM) Issues Quarterly Earnings Results

HudBay Minerals (NYSE:HBM) (TSE:HBM) announced its earnings results on Friday. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08), Zacks reports. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.During the same quarter in the prior year, the company earned $0.18 earnings per share. HudBay Minerals’s revenue was up 25.3% on a year-over-year basis.

HudBay Minerals Trading Down 3.6%

Shares of HudBay Minerals stock traded down $0.89 during trading on Friday, hitting $23.85. 3,806,820 shares of the company were exchanged, compared to its average volume of 6,364,480. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The firm has a market capitalization of $9.47 billion, a P/E ratio of 20.58 and a beta of 1.33. The firm’s fifty day moving average price is $22.72 and its 200 day moving average price is $17.32. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently bought and sold shares of HBM. Allworth Financial LP boosted its position in shares of HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP acquired a new stake in HudBay Minerals during the 3rd quarter worth $38,000. IFP Advisors Inc acquired a new stake in HudBay Minerals during the 3rd quarter worth $45,000. Banque Cantonale Vaudoise lifted its holdings in HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the period. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Citigroup boosted their target price on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Finally, Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $26.00.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.